Critically discuss and analyse these questions as a potential Special Adviser to Mr. President on Economic Development.
1. What is the real meaning of development and What can be learned from the historical record of economic progress in the now developed world? Are the initial conditions similar or different for contemporary developing countries from what the developed countries faced on the eve of their industrialization?
2. What are economic institutions, and how do they shape problems of underdevelopment and prospects for successful development.
3. How can the extremes between rich and poor be so very great?
4. What are the sources of national and international economic growth? Why do some countries make rapid progress toward development while many others remain poor?
5. Which are the most influential theories of development, and are they compatible? Is underdevelopment an internally (domestically) or externally (internationally) induced phenomenon?
6. What constraints most hold back accelerated growth, depending on local conditions?