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The Evolution of Development Perspectives

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The Evolution of Development Perspectives

The Evolution of Development Perspectives The study below is a review of different articles and the evolution of development perspectives. The study reviews the work of different authors and their perceptions about the evolution of development. A brief summary of the developed economic models has also been included, as most journals have mentioned these theories in their reviews.

Development has come a long way over the last sixty years as both a scholarly discipline and as an enterprise. It became very significant after the Second World War and was considered the same as industrialization. Its objective was very clear: to raise incomes and offer goods and services to poor people, who couldn’t have access to them before (Rapely, 2007, p. 1). Evolution can be defined as the self-transformation of a system under study (Witt, 2002, p. 9). Six decades ago, depression and political developments had made first world countries rely on Keynesian models in political and economic circles. This further influenced third world countries whose confidence was supported by the emergence of structural economics in a bid to enter the industrial age.

Since the beginning of the twentieth century, those involved with development studies tried to answer the question relating to what it means for the economy to be developed. In a bid to answer this question, many economic models were developed to explain this phenomenon (Onyeka, 2014). These development theories mainly focused on analysing the social-economic phenomenon of development, and they offered opportunities for development strategies (Mallick, 2005, p. 4).

The 1960’s was a period of widespread optimistic belief in development and

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