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| | Economic Development |
 | | For modern economists, however, the status of economic development is somewhat more uncomfortable: it has always been the maverick field, lurking somewhere in the background but not really considered "real economics" but rather an amalgam of sociology, anthropology, history, politics and, all-too- often, ideology. |
 | | Nonetheless, "economic development", as it is now understood, really only started in the 1930s when, prompted by Colin Clark's 1939 quantitative study, economists began realizing that most of humankind did not live in an advanced capitalist economic system. |
 | | By equating development with output growth, early development theorists, prompted by Ragnar Nurkse (1952), identified capital formation as the crucial component to accelerate development. |
| cepa.newschool.edu /het/schools/develop.htm (1793 words) |
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