The Science of Development Part 1

This Lecture Notes Series on the Science of Development is designed to explore the various economic and non-economic dimensions of development, construct universal notions of development that can be applied by individuals, organizations, and governments globally for purposes of achieving development, which is conceptualized here as maturing. In this sense, although the so-called less developed countries have more development challenges, all countries are at different stages of development or maturity, and that respect is developing.

This Volume one introduces the Lecture Note Series on the Science of Development by briefly reviewing the commonly known theories and concepts of development. It is divided into eight chapters. Chapter one explains the difference and similarities between development and growth economics. Chapter two briefly surveys the contribution of Marxian economic thought to development. Rostow's stages of growth theory, the Harrod - Domar model, and Solow - Swan model are described in Chapters three, four, and five respectively. Joseph Schumpeter's theory of development is discussed in Chapter six. Chapter seven discusses development strategies, and lastly, Chapter eight explains poverty and inequality especially in less developed countries.