what is economic development Why economic development? The study of economic development is one of the newest, most dashing and most attracting branches of the broader discipline of economic. “Economic development” is a branch of economic which deals with causes and cures of mass poverty. The concept of economic development goes back to the appearance of “industrial Revolution” in Europe in the 18 th century. These were such countries like U.K, France, and Germany which initiated the process of industrialization first and afterward, This process spread over to japan, Russia, and USA. The counties from Asia, Africa and Latin America failed to avail the fruits of industrial Revolution. In this way, an international division came into being ___ The rich countries and the poor counties. After world war II, there rose the desire for economic development in the backward nations of the world. Accordingly, the poor countries of the ...
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