According to modernization theory, self-sustained growth requires the consistent reinvestment of savings and capital into modern technology.

Question

Quizplus · Accepted Answer

Modernization theory asserts that sustained economic growth is only possible through technological advancement, which in turn depends on consistent savings and reinvestment of capital into modern technology. Therefore, the correct statement is that self-sustained growth requires the consistent reinvestment of savings and capital into modern technology.

According to Modernization Theory, Self-Sustained Growth Requires the Consistent Reinvestment