Course

O-Ring model

Instructor: Alex Tabarrok, George Mason University
The O-Ring theory of development deals with how firms and economies are organized when one weak link in the production process can destroy the...

The O-Ring theory of development deals with how firms and economies are organized when one weak link in the production process can destroy the entire value of production. The model has implications for wages, inequality, and big push theories of development.

 

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