'''Economic development''' is the development of economic
wealth of
countries or regions for the well-being of their inhabitants.
The economic development process supposes that legal and institutional adjustments are made to give incentives for
innovation and for
investments so as to develop an efficient
production and
distribution system for goods and service.
It is considered by some as a move towards a
Western model. It expresses the reasons why we have developing countries. Received economic lore, among others that of
capitalism, aims at continued
growth and expansion of national
economies so that
developing countries become
developed countries and followers of this school deride any possibility of an economically stable
state.
See also
Institutions
External links
Category:Development
Category:Sociology
fr:développement économique