The Theory of Economic Development

The horizon of development theories has expanded since the sixties of the last century, to include more variables and quantitative dimensions, and has also developed to take some of the qualitative and structural dimension into account. One of the famous theories in economic development is the theory presented by Arthur Lewis in this book.There is no doubt that economic growth has its price, like anything else, and if it were possible to achieve economic growth without problems, everyone would defend it and favor it. However, because economic growth has its drawbacks, people differ in their appreciation of it. There are those who point out some drawbacks, prefer stable societies, and hate the spirit of economics, which is a condition for economic growth. They also oppose large organizations, because they impose a strict system. A person who works in such an organization must wake up every day regularly and perform a specific job that he cannot neglect. They also attack economic growth, saying that it depends on inequality in individual income.