Because the second wave of government-sponsored economic development was deemed to be marginal, a third wave came where government let private businesses do more than before, and the government would only provide some direction and startup capital.

Question

Quizplus · Accepted Answer

The third wave of government-sponsored economic development indeed focused on allowing private businesses to take a more prominent role, with the government stepping back to a position where it provided direction and startup capital, rather than being directly involved in economic activities. This approach was adopted as a response to the limited success of previous, more government-controlled economic development strategies.

Because the Second Wave of Government-Sponsored Economic Development Was Deemed