The development concept that pushes for the state to accumulate capital, direct investment, and provide legal, administrative, and educational infrastructure is called
A) the developmental state.
B) the free market.
C) state socialism.
D) the invisible hand.

Question

Quizplus · Accepted Answer

The developmental state concept is based on the idea of state-led economic development, where the state plays an active and direct role in promoting and managing economic growth. This involves accumulating capital, directing investment, and providing essential infrastructure and services to support industry and business. The free market ideology, on the other hand, promotes the idea of a hands-off approach to economic development, where market forces are left to operate freely without much government intervention. State socialism, meanwhile, advocates for the nationalization of key industries and resources under state control. The invisible hand is a concept developed by Adam Smith that represents the self-regulating nature of the market economy.

The Development Concept That Pushes for the State to Accumulate