who has given the theory of unbalanced economic growth
Hirschman
title: Underconsumption text: his "The Fallacy of Savings," and similar sentiments date to antiquity, in addition to the mercantilist statements cited above: An underconsumption theory of the economic cycle was given by John A. Hobson in his "Industrial System" (1910). William Trufant Foster and Waddill Catchings developed a theory of underconsumption in the 1920s that became highly influential among policy makers. The argument was that governmental intervention, especially spending on public works programs, was essential to restore the balance between production and consumption. The theory strongly influenced Herbert Hoover and Franklin D. Roosevelt to engage in massive public works projects. Today these ideas, title: Economy text: policymakers searched for new ways of controlling the course of the economy. This was explored and discussed by Friedrich August von Hayek (1899–1992) and Milton Friedman (1912–2006) who pleaded for a global free trade and are supposed to be the fathers of the so-called neoliberalism. However, the prevailing view was that held by John Maynard Keynes (1883–1946), who argued for a stronger control of the markets by the state. The theory that the state can alleviate economic problems and instigate economic growth through state manipulation of aggregate demand is called Keynesianism in his honor. In the late 1950s, the economic title: Henry Charles Carey text: Henry Charles Carey Henry Charles Carey (December 15, 1793 – October 13, 1879) was the leading 19th-century economist of the American School of capitalism, and chief economic adviser to U.S. President Abraham Lincoln. Carey is best known for the book "The Harmony of Interests: Agricultural, Manufacturing, and Commercial" (1851), which denigrates the "British System" of "laissez faire" free trade capitalism in comparison to the American System of developmental capitalism, which uses tariff protection and government intervention to encourage production and national self-sufficiency. Born in Philadelphia, Pennsylvania in 1793, Carey was the son of Mathew Carey (1760–1839), an influential economist, political title: Strategy of unbalanced growth text: Fleming, Prof. Rostov and J. Sheehan. The theory is generally associated with Hirschman. He presented a complete theoretical formulation of the strategy. Underdeveloped countries display common characteristics: low levels of GNI per capita and slow GNI per capita growth, large income inequalities and widespread poverty, low levels of productivity, great dependence on agriculture, a backward industrial structure, a high proportion of consumption and low savings, high rates of population growth and dependency burdens, high unemployment and underemployment, technological backwardness and dualism{existence of both traditional and modern sectors}. In a less-developed country, these characteristics lead to scarce resources or inadequate infrastructure title: Albert O. Hirschman text: Albert O. Hirschman Albert Otto Hirschman (born "Otto-Albert Hirschmann"; April 7, 1915 – December 10, 2012) was an influential economist and the author of several books on political economy and political ideology. His first major contribution was in the area of development economics. Here he emphasized the need for unbalanced growth. Because developing countries are short of decision making skills, he argued that disequilibria should be encouraged to stimulate growth and help mobilize resources. Key to this was encouraging industries with a large number of linkages to other firms. His later work was in political economy and there he advanced