Definition of Economic Development in the Britannica Online Encyclopedia can be resumed as a process where low-income national economies are transformed into modern industrial economies through a change in a country’s economy involving qualitative as well as quantitative improvements. This issue is always a central issue in every underdeveloped nation. Almost all government related issues, lets say politics, defense, security, are usually in any way connected to it. Reasons are clear; economic problems are the burden peoples face every day. The study in this field is enormous. It is usual that material portion of government spending is spent in this field. The problem is that some time these attention and effort consuming activity results failure to most, or at least leaves an uncovered space in the society, that is wide welfare gap. Although some time the economy grows, but social condition becomes unstable. Reason behind it is that sometimes economic development focus too much to t...
Connecting The Past to The Future