Alfred Marshall drew an analogy between economic development and biological evolution. In the process of development different organs of the national economy become differentiated and further development comes to depend on how well these parts are coordinated and how effectively they support one another and the whole. This is a matter which will come up in various forms in a variety of contexts in subsequent chapters. A few preliminaries can be usefully discussed at this stage.
KeywordsEconomic Development Foreign Trade Social Revolution Market Town Indian Village
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