ABSTRACT
The theory of economic development has had a long and tangled history extending from the classics of eighteenth– and nineteenth-century political economy, through the German historical school of the early twentieth century (above all, Schumpeter, 1934), to the many different streams of developmental ideas that were in circulation in the immediate post-war decades. … Notwithstanding the complexity and diversity of existing approaches to development, the vast majority of them tend to concentrate on macroeconomic variables and processes.
