Development economics is very important to study because it helps us to know the real meaning of development, and how different economic concepts can and theories contribute to the better understanding of the development process.
To know the sources of national and international economic growth. To know who benefits from such growth and why also to know why do a few more countries make rapid progress towards development while the majority remains abjectly poor.
We can get the knowledge about most influential theories of development and whether they are compatible or not. We can also know that is underdevelopment an internally or externally induced phenomenon.
We can know what can we learn from the historical records of economic progress in the now developed world. Are the initial conditions similar or different for contemporarily LDGs from what the developed countries faced on the eve of their industrialization? And many more.
No comments:
Post a Comment