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Approaches to Economic Development
THE ECONOMICS OF DEVELOPMENT - Ideas AND APPROACHES Meaning of the word 'Economic Development' Actually, there are broadly two main methods to the concept of economical development : The Traditional Strategy or 'The Phases of Economic Progress' Theories of the 1950s and the early 1960s. The New Welfare Oriented Strategy or 'The Structural-Internationalist' Models of the overdue 1960s and the 1970s. 1. The Traditional Strategy : The thinking about the..
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