The study of economic development is one of the newest, most exciting, and
most challenging branches of the broader disciplines of economics and political
economy. Although one could claim that Adam Smith was the first “development
economist” and that his Wealth of Nations, published in 1776, was
the first treatise on economic development, the systematic study of the problems
and processes of economic development in Africa, Asia, and Latin
America has emerged only over the past five decades or so. Although development
economics often draws on relevant principles and concepts from other
branches of economics in either a standard or modified form, for the most part it
is a field of study that is rapidly evolving its own distinctive analytical and
methodological identity
The study of economic development is one of the newest, most exciting, andmost challenging branches of the broader disciplines of economics and politicaleconomy. Although one could claim that Adam Smith was the first “developmenteconomist” and that his Wealth of Nations, published in 1776, wasthe first treatise on economic development, the systematic study of the problemsand processes of economic development in Africa, Asia, and LatinAmerica has emerged only over the past five decades or so. Although developmenteconomics often draws on relevant principles and concepts from otherbranches of economics in either a standard or modified form, for the most part itis a field of study that is rapidly evolving its own distinctive analytical andmethodological identity
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