Is there an economic philosophy that is dualistic?

What is economic dualism?

economic dualism A way of conceptualizing the existence of two (sometimes more) separate but symbiotic sets of economic processes or markets within the same political or national social framework.

Which country economy is dualistic economy?

China is an example of a developing economy which has benefited from absorbing surplus labour in agriculture into the more profitable manufacturing export sector. Lewis perhaps exaggerated the separation between the different sectors.

Who is known as dualistic philosophy?

The modern problem of the relationship of mind to body stems from the thought of the 17th-century French philosopher and mathematician René Descartes, who gave dualism its classical formulation.

What is the dualistic theory?

1. dualism – the doctrine that reality consists of two basic opposing elements, often taken to be mind and matter (or mind and body), or good and evil.

Who among the following economists assume dualism in the economy?

The concept of economic dualism was first introduced by J. H. Boeke in 1953 in the context of the dual economy and dual society of Indonesia.

Which country’s philosophy is dualistic and unique?


During the classical era of Buddhist philosophy in India, philosophers such as Dharmakirti argued for a dualism between states of consciousness and Buddhist atoms (the basic building blocks that make up reality), according to the “standard interpretation” of Dharmakirti’s Buddhist metaphysics.

What are examples of dualism?

Examples of epistemological dualism are being and thought, subject and object, and sense datum and thing; examples of metaphysical dualism are God and the world, matter and spirit, body and mind, and good and evil.

Was Aristotle a dualist or monist?

Aristotle describes the soul, not as informed, but as ‘the place of forms’, making the soul unlike other individual entities (e.x., the body). This designation seems to qualify Aristotle as a tenuous dualist in that the soul appears to fall outside the framework of his monistic physicalism.

What is dualistic theory of economic development?

There is consensus in the literature on economic development that the dualistic. structure, i.e., the coexistence of two sectors characterized by highly differentiated modes of social and economic organization and activity in the same country, describes accurately the prevalent structure in most LDCs.

What is the problem with dualism?

Problems of Interaction. The conservation of energy argument points to a more general complaint often made against dualism: that interaction between mental and physical substances would involve a causal impossibility.

What are the consequences of dualistic economy?

The dual economy theory suggests that, prima facie, factor market inefficiencies exist within the economy. This lowers overall productivity and income by allocating too many factors of production to the low productivity sector, typically agriculture.

Why Indian economy is called dualistic economy?

The Indian economy is considered to have a dualistic feature because it comprises the features of both types of economies- underdeveloped as well as progressive. A very large portion of the economy consists of people who are underdeveloped and belong to the backward class.

What is sociological dualism?

In sociology and economics, Social dualism is a theory developed by economist Julius Herman Boeke which characterizes a society in the economic sense by the social spirit, the organisational forms and the technique dominating it.