Merits and Demerits of Theories of Economic Growth

This book is devoted to a discussion of the advantages and disadvantages of some alternative theories of economic growth. These are theories of economic growth expounded by W. A. Lewis, J. K. Galbraith and W. W. Rostow. In an attempt to reveal the merits of the theories, the book x-rays and explains each of them. Each theory is then assessed with a view to drawing attention to its weaknesses. Each of the three theories states the requirements for the attainment of economic growth. In doing so, it implicitly recommends the economically advanced countries as a model of economic growth while assuming that they are not responsible for the economic backwardness of less privileged countries. The book examines the identified conditions of economic growth, the above-stated recommendation and assumption. The evaluation reveals the extent to which the conditions, recommendation and presupposition hold. The book then discusses the implications of the acceptance of the theories of economic growth for African leaders and peoples. The book is useful to students, lecturers, policy makers, researchers,and the general public.