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The Evolution of the Western Concept of Development

  • Abbas Mirakhor
  • Hossein Askari

Abstract

The concept of development in the West, which has evolved over a number of years, today can mean quantitative growth, qualitative improvement, and expansion in the capabilities, capacities, and choices of individuals, groups, or states. Development is conceived as more than a quantitative change in some index, such as a higher level of per capita income; it is about being more, not having more. To appreciate the context for Islamic thinking on development, it is helpful to briefly review the historical origins and evolution of the Western concept of development. There are two distinct periods marking the evolution of the development concept in the West: the first period is from 1700 to 1945, covering largely the development of the capitalist economies of the West, and the second is after WWII, focusing on the less-developed economies.1

Keywords

Human Capital Total Factor Productivity Social Order Capital Accumulation Institutional Structure 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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© Abbas Mirakhor and Hossein Askari 2010

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  • Abbas Mirakhor
  • Hossein Askari

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