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Development 2

The document summarizes several theories of economic development including classical theory, Keynesian theory, Marxian theory, and neo-classical theory. It also lists key sources of economic development such as investment, technological advances, and institutional changes. Modern economic growth is characterized by high per capita growth, rising productivity, structural transformation, urbanization, and globalization of trade and capital flows.

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Jayant Kindo
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21 views4 pages

Development 2

The document summarizes several theories of economic development including classical theory, Keynesian theory, Marxian theory, and neo-classical theory. It also lists key sources of economic development such as investment, technological advances, and institutional changes. Modern economic growth is characterized by high per capita growth, rising productivity, structural transformation, urbanization, and globalization of trade and capital flows.

Uploaded by

Jayant Kindo
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Sources of Economic development

Investment in physical and human capital Technological advances Institutional and policy changes
Competitive markets Stable prices Free trade Flexible capital markets Secure property rights Political stability

Modern Economic Growth


High growth of per capita product and population Rise in productivity High rate of structural transformation Urbanisation Outward expansion of developed countries International flow of men, goods and capital

Theories of Development

Classical theory Keynesian theory Marxian theory Neo-classical theory

The Classical Theory


Laissez-Faire policy Capital accumulation, the key to progress Profits, the incentive to investment Tendency of profits to decline Stationary state

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