ABSTRACT
Up until the late 1960s, development was synonymous with economic growth, the idea being that the increase in national income would eventually “trickle down” to the masses and the standard of living of the people would improve. However, the experience of the developing countries in the 1970s did not lend empirical support to this view. So the view started changing in the 1970s and the idea of development became more people oriented than goods oriented. Development policies started focusing directly on the well-being of the people or on raising the standard of living of the people rather than on increasing the national income of the country.
