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Beskrivelse
Development is commonly described as the overall improvement in the well-being of persons, improvement in the functioning of systems and institutions, and the attainment of positive peace. Economic development is a significant aspect of overall development but by no means all of it. For instance, factors like social cohesion, cultural modernization, good neighborliness, and strong civil societies, among others are essential for development but lack economic measures.
The Science of Development is designed to explore the various economic and non-economic dimensions of development, and construct universal notions of development that can be applied by individuals, organizations, and governments globally for purposes of achieving development, which is conceptualized here as maturing. In this sense, although the so-called less developed countries have more development challenges, all countries are at different stages of development or maturity, and that respect is developing.
This Lecture Note on the Science of Development briefly reviews the commonly known theories and concepts of development. It is divided into eight chapters. Chapter One explains the difference and similarities between development and growth economics. Chapter two briefly surveys the contribution of Marxian economic thought to development. Rostow's stages of growth theory, the Harrod - Domar model, and the Solow - Swan model are described in Chapters three, four, and five respectively. Joseph Schumpeter's theory of development is discussed in Chapter Six. Chapter seven discusses development strategies, and lastly, Chapter eight explains poverty and inequality, especially in less developed countries.
