The politico-economic conditions at the global level underwent a considerable change in the seventies of the Twentieth Century. At the outset of Cold War, it was widely assumed in US government and academic circles that poverty in the Third World facilitated the spread of international communism. The assumption on the part of Western countries and … Read more
The intellectual roots of the concept of modernisation could be traced to the Behavioural Political Science of the American social science scholarship. These Anglo-American Social Scientists, who are theoretically and methodologically motivated by the thoughts of Max Weber and August Comte, felt that it is their responsibility to evolve a political strategy for continuing modernisation … Read more
The Economic Depression of 1930s had wide ranging impact on economic and political thinking. The affects of Great Depression of 1930s brought the timely modifications in Classical Growth Model of development. This was provided by the Neo-Classical economist J.M.Keynes, whose ideas were dominated the 20th century economic thought in the West and Third World countries … Read more
The most essential principle of Classical Economic Thought is the independence of market mechanism in bringing development. Capital occupies a prominent place in their approach to development. They consider the cause of underdevelopment or backwardness as the inadequate generation and availability of capital. Consequently the way to achievement of development is possible through the more … Read more