Explain the basic idea behind the Big Push model?

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The Answer is The Big Push model is an economic development theory that suggests that in order for a developing country to escape poverty and achieve sustained economic growth, it needs to make a coordinated and simultaneous investment in multiple sectors of the economy. This approach is based on the idea that individual investments in different sectors may not be enough to kickstart economic development, but a large and coordinated effort across multiple sectors can create a positive feedback loop that leads to overall economic growth.

The basic idea behind the Big Push model is that by investing in multiple sectors at the same time, the economy can overcome the barriers to development, such as lack of infrastructure, low productivity, and market failures. This approach can create a domino effect where the development of one sector supports the development of others, leading to a self-sustaining cycle of growth.

The Big Push model was popularized by economist Paul Rosenstein-Rodan in the 1940s and has been influential in shaping development policies in many countries. However, it has also been subject to criticism, as it requires a significant amount of resources and coordination, and there is no guarantee that the investments will lead to the desired economic growth. Nonetheless, the idea of coordinated investment across multiple sectors remains an important concept in development economics.

Explain the Basic Idea Behind the Big Push Model