Discuss the classical theory of economic development. 

The classical theory of economic development is based on the ideas of several prominent economists, including Adam Smith, David Ricardo, and Thomas Malthus. The theory emphasizes the role of capital accumulation, technological progress, and market competition in promoting economic growth and development.

According to the classical theory, economic development occurs through the accumulation of capital, which is defined as the stock of goods that can be used to produce other goods and services. Capital accumulation can occur _______ ____ ____ _____ ________ _________ _____ _________ ______ __________ ____ ________.
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