EAN: 9783954891641

DEVELOPMENT ECONOMICS AN ASPECT OF DEVELOPMENT ...

Development economics entail all the aspects of the development process especially meant for
the developing countries to overcome the challenges that impede development. This can be
through education  education and man power development  restructuring market incentives 
incorporating favorable social and political approaches and practices among other factors.Human
beings however need streamlined social and economic systems that are able to achieve
development through major changes in social structures  national institutions  cultures and
attitudes as well as eradication of poverty  reduction of income inequality and acceleration of
economic growth. The developing world needs a multi-disciplinary approach and ideas so as to
come out of the economic backward situation. Micheal  P describes that because of heterogeneity
of the developing world  and the complexity of the development process  development economics
must be eclectic  attempting to combine relevant concepts and theories from traditional
economics analysis along with new models and broader multi-disciplinary approaches from
historical and co temporally development experience of Africa  Asia  and Latin America. Debraj
Ray puts it that development economics studies economics of the developing world and has made
excellent use of economic theory  econometrics  anthropology  sociology  political science 
biology and demography. It needs a lot more dimensional approach to understand it.

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