different school of thought

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Competing Theories of Economic Development  By Ricardo Contreras In this section we are going to introduce you to four schools of economic thought that came into existence following World War II: (i) structuralism, (ii) the linear-stages- growth model, (iii) the neo-Marxist or dependency theory, and (iv) the neoclassical revival of the 1980s. These schools fall under the general rubric of "development economics," a branch of economic analysis that responded to the perceived inability of classical, neo-classical, and Marxist economics to address the economic reality that plagued the poor countries of the world. By the 1950s, it was possible to divide the world into two groups of countries - the poor and the wealthy. The wealthy group was composed of most of the Western

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