Correct option is B
Albert O. Hirschman is best known for his "Theory of Unbalanced Growth", in which he argued that deliberate imbalances in economic investment could drive development by stimulating demand and inducing further growth.
Information Booster
Economic development occurs not through uniform investment but by focusing resources on key industries that can generate the most linkages.
Strategic investments in a few sectors create backward and forward linkages, leading to overall economic expansion.
He rejected balanced growth theories, arguing that trying to develop all sectors simultaneously would spread resources too thin and slow down progress.
Additional Knowledge:
Gunnar Myrdal (Option A):
Developed the Cumulative Causation Theory, which explains regional disparities and how economic advantages accumulate in certain areas.
Unlike Hirschman, he focused on how imbalances create inequalities rather than stimulate growth.
A.G. Frank (Option C):
Associated with Dependency Theory, which critiques capitalist development, stating that underdeveloped nations remain dependent on developed countries due to historical exploitation.
Ragnar Nurkse (Option D):
Proposed the Balanced Growth Theory, arguing that simultaneous investment across various sectors is necessary to break the cycle of poverty.
This directly contrasts with Hirschman’s Unbalanced Growth approach.