COURSE: URBAN AND REGIONAL PLANNING MODULE: URBAN AND REGIONAL PLANNING STUDIO TASK TITLE: INDIVIUAL ASSIGNMENT 02, NTA LEVEL 05 ABDALLAH ABDALLAH NDULEClassic growth theory supported the ideas of free trade wong naa and respect for the accumulation of private property. Growth theory is @ way to exp! economy increases in its power. Classic growth theory was developed alongside. revolution in Great Britain. APPROACHES OF CLASSIC THEORIES OF ECONOMIC DEVELOPMENT ‘The Linear-Stages of growth model Structural change pattern Theories Intemational- Independence ‘Neo-classical (Counter-revolution) Theory Bee 1. THE LINEAR STAGE OF GROWTH MODEL. Linear growth theory focuses on the steps and or stages to inerease economic power. According to Eeonomies online, one ofthe first growth theories was that proposed by American economie historian Walt Rostow in the early 1960s. The model postulates that economic growth occurs in five basic stages of varying length. ROSTOW STAGES OF DEVELOPMENT “The transition from underdevelopment to development can be described in terms of a series of step and through which all countries must proceed The traditional society The precondition take off The take off The drive to maturity vy, The high mass consumption 2. STRUCTURAL CHANGE PATTERN THEORIES. Structural puts attention on the transition from agriculture to a high productivity of labor. The basic idea behind what is also called’ LEWIS MODEL".is explained by the website ) Lewis theory of Development (its involve two-sectors surplus labor theoretical model) focuses on both the process of labor transfer and the growth of output and employment in the modern sector.‘This model puts an emphasis on the constraints Underdevelopment is externally induced. View that developing countries are caught up in a d relationship with developed countries. 3 major school of thought, a) Neocolonial Dependence Model Develop countries exploitative and neglectful relationship with developing countries b) False Paradigm Model Underdevelopment resulted from faulty and inappropriate advice from foreign experts and donors. ©) Dualistic Development Theory Existence and persistence ofthe increasing gap between rich and poor nations and rich and poor peoples on various levels. 4. NEO-CLASSICAL (COUNTER-REVOLUT JON) THEORY. = This perspective become popular in the 1980s as a rejection of Keynesia ‘According to Economics online. Underdevelopment is primarily internally induced Underdevelopment results from poor resources al policies and too much government intervention in economics. location due to incorrect pricing privatization of state -owned «Implication; Need for free and competitive market; enterprise; deregulation «Sources of growth; Increase in quality of technology f labor; improve capital through investments in