Page1 2 Development and economic growth are topics that jumped into the limelight of world affairs some seventy years ago when Roy Harrod, an eminent economist, introduced the theory of economic growth and gave the world especially the newly independent colonial countries a recipe for leading their countries towards economic prosperity. The themes of development were largely dormant in the early years post the industrial revolution but in the nineteenth and twentieth century the out-of-the-world prosperity that was witnessed in the United States led to countries all over the world looking for ways to emulate such prosperity back home. Economic growth was now a term on everyone’s lips. Some thirty years ago, Amartya Sen, an Indian economist suggested that development and prosperity should not be only depended upon how much a country produces basically he wanted a measure of development apart from the traditional Gross Domestic Product. This search led to the creation of the Human Development Index by the United Nations based upon the Human Development Theory of Amartya Sen himself and Mahbub-Ul-Haq of Pakistan.
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