Economists have defined economic development in various ways.Hence,it is difficult to give accurate and universally acceptable definition.Prior to1970s,economic development was seen as
the increase in GNP per capital,which is obvious from fallowing definition.
In the option of Arther Lewis"economic development means the increase in per capital production".P.A. Bran,defined economic development as an increase over time in per capital output of material goods.
In the words of Gerald M.Meier-"economic development is the process whereby the real per capital income of a country increases over a long period of time subject poverty does not become more un equal".
There is change in this view recent years.from 1970s onward the term economic development is broadly defined to include non-economic factors called human development beside income.
the increase in GNP per capital,which is obvious from fallowing definition.
In the option of Arther Lewis"economic development means the increase in per capital production".P.A. Bran,defined economic development as an increase over time in per capital output of material goods.
In the words of Gerald M.Meier-"economic development is the process whereby the real per capital income of a country increases over a long period of time subject poverty does not become more un equal".
There is change in this view recent years.from 1970s onward the term economic development is broadly defined to include non-economic factors called human development beside income.
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