Adam Smith is known as father of economics. We get his ideas about economic development from his well-known book, “An Enquiry into the Nature and Causes of Wealth of Nations” (1976) which has tremendously influenced the thinking about economic growth and development. We briefly explain below his ideas about economic development. We will study below that he advocated the policy [...]
Here is an essay on ‘Economic Development in India’ for class 8, 9, 10, 11 and 12. Find paragraphs, long and short essays on ‘Economic Development in India’ especially written for school and college students. Essay on Economic Development in India Essay # 1. Meaning of Economic Development (Traditional View): No distinction was drawn between economic growth and development in [...]
In this article we will discuss about how to measure economic development in India. GNP as a Measure of Development: It is now important to explain how economists measure development. Prior to 1970, economic development was generally meant to be sustained increase in the productive capacity of a country over a period and was interpreted in the same sense as [...]