This thinker criticized Keynes for not distinguishing between ex ante and ex post calculations of savings and investment inone work, and in another, he coined the the terms "backwash" and "spread" to characterize how development can have, respectively,negative and positive side eects.
This thinker criticized Keynes for not distinguishing between ex ante and ex post calculations of savings and investment inone work, and in another, he coined the the terms "backwash" and "spread" to characterize how development can have, respectively,negative and positive side eects. In addition to collecting lectures in Monetary Equilibrium and writing EconomicTheory and Underdeveloped Regions, this thinker proposed a kind of vicious cycle known as circular cumulative causation,which he used to explain why economic forces sometimes beneÂt the core of an economic zone at the expense of the periphery.This author of Asian Drama: An Inquiry into the Poverty of Nations wrote a book which criticized the AgriculturalAdjustment Act and minimum wage laws for encouraging employers to discriminate against minority workers. For 10 points,identify this economist who shared the 1974 Nobel Prize with Friedrich Hayek and authored An American Dilemma: TheNegro Problem and Modern Democracy.
This thinker criticized Keynes for not distinguishing between ex ante and ex post calculations of savings and investment inone work, and in another, he coined the the terms "backwash" and "spread" to characterize how development can have, respectively,negative and positive side eects.
Karl Gunnar Myrdal