Dualism Theories

In: Business and Management

Submitted By skyangchong
Words 2430
Pages 10
TABLE OF CONTENTS 1. Introduction 2. Dualism Theories 3. The Concept of Dualism in Economics 4. Does the concept of Dualism adequately portray the development picture in most developing countries? 5. Conclusion 6. Refrences

INTRODUCTION

Dualism is derived from the Latin word duo meaning "two"‬ denotes the state of two parts. The term 'dualism' was originally coined to denote co-eternal binary opposition, a meaning that is preserved in metaphysical and philosophical duality discourse but has been more generalized in other usages to indicate a system which contains two essential parts. Dualism is a major characteristic of an underdeveloped economy. Dualism refers to that condition of a country when two sectors advanced of modern sector and the backward or traditional exist side by side. For instance we have modern industries and the old cottage industries medieval farming being practiced at the same time. In other words, in an under developed country, there is the bullock cart economy and modern transport operating at the same time.

DUALISM THEORIES
Dualism theories assume a split of economic and social structures of different sectors so that they differ in organization, level of development, and goal structures. Usually, the concept of economic dualism differentiates between two sectors of economy: * The traditional subsistence sector consists of small-scale agriculture * True, handicraft and petty trade, has a high degree of labor * Intensity but low capital intensity and little division of labor; * The modern sector of capital-intensive industry and plantation * Agriculture produces for the world market with a capital-intensive * Mode of production with a high division of labor.
The two sectors have little relation and interdependence and develop each according to its own…...

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