55
Stages and Strategies of Economic Growth
Stages of Economic Growth
Countries achieve economic growth in stages over a period of time. At any point of time, we find that some countries are highly developed; some are in the process of developing while a large number of them remain poor and underdeveloped. One can see that every country—be it developed, developing or underdeveloped—tries its best to accelerate its economic growth, with varying degree of success. According to Adam Smith, the founder of economics, the sequence of development was from hunting stage to pastoral stage and then from agricultural and commercial culminating in manufacturing stage. Another economist, Hildebrand has traced the stages of development based on the evolution ...
Get Indian Economy now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
