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aw_todarosmit_econdevelp_8|Student Resources|Chapter 5: Contemporary Models of Develo|Key Concepts (417 words) |
 | In the Roemer model, technological change is endogenously determined: economy wide capital stock affects industry-wide output (that is, increasing returns to scale may exist). |
| The chapter continues on to describe and discuss models that posit that underdevelopment is the result of economic agents' failures to coordinate with each other. |
| Rosenstein-Rodan's "big push" model is described and presented diagrammatically as an example. |
| The Gyroverse Model (6227 words) |
| In the gyroverse model, the universe consists of twelve dimensions that enable all parts of the universe to be only atomic distances from all other parts of the universe. |
| The big bang theory is the predominant explanation for the origin of the universe. |
| This caused the big bang theory to replace the steady state model, as the explanation of the universe's evolution. |
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