A brief review of major theories of development Pure economic theories of development 285 Keynesian macroeconomics, Marxism, laissez-faire, and

Theories of (absolute) growth in population and wealth and their interaction are found in classical and modern economic growth theory and in the theory of international trade, both in the field of macroeconomics. The classical work took place in the past two centuries by A.Smith, D. Ricardo, R.Malthus and J.S.Mill. Their work will not be reviewed here, but it provides the basis for the currently available purely macroeconomic theories of development, modern economic growth theory, and the theory of international trade to be reviewed next.