●Convergence theory
convergence theory
(1960s)
Theory of development of industrial nations, first proposed by Dutch economist JAN TINBERGEN (1903-1994).
The division between capitalist democracies in Western Europe and North America, and communist states in Eastern Europe, is fading. The nature of industrial society leads both types to converge towards a common centre. Capitalist societies are becoming more organized and managerial, communist societies more open to market methods and to greater political and civil freedoms.
Convergence theory received a violent acceleration after 1989.
<a href="http://www.economyprofessor.com/economictheories/convergence-theory.php" target="_blank">Convergence Theory</a>
