The Development Challenge: Theory,Practice,and Prospects
Ours is the time of the development revolution. Since World War II there has been a transformation of the lifeways of the inhabitants of the planet that is unprecedented in extent, in depth, and in rapidity. It is truly spectacular and can only be described in superlatives. The indicators for this global transformation are many. In the essays in this collection are references to the more strictly economic indicators such as growth in per capita income and world trade. By any previous standards, the rates of change are considerable, whether aggregated on a global basis or broken down between the developed and the developing countries. If broken down further into regional groupings, particularly for the period before 1980, except for Africa and a few subregions, aggregate economic change has been substantial and, generally, per capita improvement has been widespread.
KeywordsPopulation Growth Monetarist Policy Technology Transfer International Monetary Fund Money Supply
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