ABSTRACT
Economic growth may be distinguished from economic development. The former refers narrowly to increasing income or output per capita, while the latter relates more broadly to the emergence in society of the attitudes, values, skills, and knowledge essential for sustained growth. Development economics is the progeny of the poor economies of Asia, Africa, and Latin America; growth economics, of the instability of rich capitalist economies. In order to show how growth in the economic sector may be limited by the nonrational demands of political development, the chapter discusses the concept of political monuments. Political monuments are public goods which articulate and reify the state or nation and facilitate the process of political socialization. The creation of political monuments out of the previous history of a society suggests that political development, like economic growth, may be subject to increasing returns.
