Problem
Briefly explain the ideas of virtuous circles. Can you give two different examples of virtuous circles that might affect a less-developed economy? Summarize the various forms of positive external effects and virtuous hidden effects which Rosenstein-Rodan utilized to argue that development could be achieved quicker than one might expect. Can you speculate on what a "vicious circle" might be?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.