The Science of Economic Development and Growth outlines a new theoretical framework -- one employing scientific method and reasoning -- through which to study and plan for the economic development of poor countries. This new theory is presented in three parts: first, a full discussion of how countries like the U.S. were able to develop; second, the author proposes that there is a third dimension to understanding growth and development -- material -- which must be considered along with labor and capital; third, the book shows how capital accumulation -- long thought to be a necessary precursor to growth and economic expansion -- is not only unnecessary but can actually lead to qeconomic hemorrhageq, as was the case during the Asian economic crisis.If the crash of 1929 was an important shock to the economy then the crash of 1987 should have been equally disastrous. The stock market has grown in the intervening years in the intervening half century and news of the stock market wasanbsp;...
|Title||:||The Science of Economic Development and Growth|
|Author||:||Clement Chukwukadibia Onyemelukwe|
|Publisher||:||M.E. Sharpe - 2005|