What has been the evolution of development theories since the “linear stages” period? Have these theories added value to the understanding/explaining the causes of underdevelopment? Give reasons for/against your position.
Among the many fundamental questions that continue to confound economists today, is the issue, what are the causes of economic growth and decline? Economic theories have emerged to locate, understand, and thus, develop the reasons behind the successes and failures of economies. While the original answers for this question were in the form of simple theories, nowadays, the complexity of this question has been better understood as these theories ...