Question

DO THE CONCEPT OF DUALISM ADEQUATELY POTRAYS THE DEVELOPMENT PICTURE IN MOST DEVELOPING COUNTRIES , AND WHAT IS THE MEANING OF DUALISM AND DUAL SOCEITIES

Answer 1

Dualism in economics refers to the two clearly distinguished parts or sections of the economy that face different growth trends, have different issues and face different level of distribution of resources. Here, one part of the economy can be clearly differentiated from the another part of the economy. Dual societies involve two different societies who differ from each other in terms of resources, believes, cultural preferences, economic practices and other characteristics. Technological preferences also differ in these societies. So, dualism can be identified in most developing countries as the economy of these developing countries can be identified into:

1. Rural and urban economy

2. Rich and poor class

3. Presence of dual societies

Above duality can show the different pattern of income growth, economic activities and availability of resources at disposal. But, there is a presence of middle class also that is very large. One part of it is from the urban areas and another part is migrated from the rural area. It creates the third section in the economy and has distances from rich as well as from the poor. So, dualism can be used up to a certain extent only due to the presence of these middle class people with mid-level of income.