ADVERTISEMENTS: This concept was endorsed by Rosenstein Rodan in one of his articles titled “Problems of Industrialisation of Eastern and South Eastern Europe.” Prof. Nurkse, Prof. Lewis and Stovasky have examined this concept of balance of growth on different bases. 17 Again Full Movie In Hindi Dubbed.

It was Fredrick List who for the first time put forward the theory of balanced growth. Theory of Balance Growth: Concept, Definition and. File Share Your PDF.

In the words of Kindleberger, “Balanced Growth has so many meanings that it is in danger of losing them all.” Definitions: 1. P.A Samuelson, “Balanced Growth implies growth in every kind of capital stock constant rates.” 2.

U.N Publication, “Balanced Growth refers to full employment, a high level of investment, overall growth in productive capacity, equilibrium.” 3. Alak Ghosh, “Planning with balanced growth indicates that all sectors of the economy will expand in same proportion, so that consumption, investment and income will grow at the same rates.”. ADVERTISEMENTS: It can be expressed as: ∆C/C = ∆I/I = ∆Y/Y 4. Benjamin Higgins, “A wave of capital investment in a number of industries is called Balanced Growth.” 5. Lewis, “In development programmes, all sectors of economy should grow simultaneously so as to keep a proper balanced between industry and agriculture and between production for home consumption and production for exports the truth is that all sectors should be expanded simultaneously.” 6. Kindleberger, “Balanced Growth implies that investment takes place simultaneously in all sectors or industries at once, more or less along the lines of the slogan, ‘You can’t do anything until you can do everything.” 7. Harrod, “Balanced Growth aims at equality between growth rate of income, growth rates of output and growth rate of natural resources i.e.

G y = G w = G n Here G y stands for growth rate of income, G w stands for growth rate of output and G n stands for growth rate of natural resources. Joan Robinson’s concept of golden age also implies balanced growth. It states that there must be equality between growth rate of capital and labour force i.e.