In this book Nurkes provides a comprehensive analysis of the challenges facing developing countries in accumulating capital. He argues that the lack of capital is a major obstacle to economic development, and he identifies a number of factors that contribute to this problem.
One of the key problems, Nurkes argues, is the low level of savings in developing countries. This is due to a number of factors, including low incomes, high population growth rates, and traditional consumption patterns. He opines that the low level of savings is exacerbated by the fact that developing countries have to import a large proportion of the capital goods that they need for investment.
Nurkes proposes a number of solutions to the problem of capital formation in developing countries. One solution is to increase domestic savings through policies that promote economic growth and raise incomes. Another solution is to attract foreign investment. He also argues that developing countries need to invest in infrastructure and other productive assets that will help to raise the productivity of their economies.
Nurkes’s book is a classic work in the field of development economics. It provides a valuable framework for understanding the challenges facing developing countries in accumulating capital. The book is also a valuable resource for policymakers who are seeking to design policies that promote capital formation and economic development.