Discuss the merits and limitations of the theory of development enunciated by Western thinkers like W.W. Rostow and Schumpeter.
Introduction The theory of development has undergone many transformations over the years. Two significant Western thinkers, W.W. Rostow and Joseph Schumpeter, contributed foundational ideas that shaped development theory in the 20th century. Their work provides insight into economic growth, industrialization, and modernization. However, these theories are not without their limitations, especially when applied to diverse […]