L5 John Stuart Mill's Theory of Economic Development | Classical Economists
Автор: Economics with HB
Загружено: 2025-08-10
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Here we discuss John Stuart Mill's theory of economic development and growth. Mill was among the last of the prominent Classical Economists, so his theory contains elements from all the previous classical economists. He talks about 5 key elements required for an economy's growth, and how an economy can progress from a backward stage (under-developed) economy to an advanced stage economy.
We also critically evaluate the key features of the theory in light of modern economics.
Other Lectures in the Series
1. Adam Smith's theory of Economic Development - • L1 Adam Smith's Theory of Economic Develop...
2. T.R. Malthus' theory of Economic Development - • L2 Thomas Malthus' Theory of Economic Dev...
3. David Ricardo's theory of Development (Part-1) - • L3 Ricardian Theory of Economic Developmen...
4. David Ricardo's theory of Development (Part-2) - • L4 Ricardian Theory of Economic Developme...
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