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What is Classic Theories of Economic Development about?

The document summarizes four classic theories of economic development: 1. Linear-stages-of-growth model from the 1950s-60s which viewed development as successive stages requiring investment and foreign aid. Rostow identified 5 stages including traditional society and take-off. 2. Structural-change models from the 1970s focused on transforming economic structures from traditional to industrial. Lewis

Author

Soothing Blend

Language

EN