What is a dual economy?

Answer 1

Within the reach of understanding the Statement" To those who have will be given, and those who have not will be taken" of short order, The Economy of the Wealthy, Vs the Economy of the Poor, both living in the same moments, one in a dream, the other in a nightmare this is a excerpt from one of thousands of examples relative to the Theories: Status distributions are nearly always positively skewed, with a majority of the population occupying less than average status and small numbers occupying status that is far above average.

For any discussion of status above the median, the upper status has more extensive relations with the lower than the lower has with the upper. Most people are insulated from social contacts with the elite. Except for the lowest strata, the probability of people's associating with others below their status is greater than the probability of their associating with others equidistant above them.

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A duel economy is a concept originally by Julius Herman Boeke, in which there are two different economic systems within one country. This is more common in less developed countries, where one system aids local needs and another exists merely for global exportation purposes.

Answer 2

Dualistic economy is a co-existence of two opposite economies, i.e., modern economy and the backward economy. The modern economy enjoys all facilities and amenities of the modern life whereas the traditional economy remains devoid of all such things. The existence of these two different economies creates a problem known as the 'problem of dualism'.