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The concept of development has undergone a significant transformation over time. In the early decades after the Second World War, development was largely equated with economic growth. It was measured by indicators such as Gross Domestic Product (GDP), Gross National Product (GNP), industrial output, and per capita income. Policymakers believed that rapid economic growth would automatically improve the standard of living of all sections of society through the "trickle-down effect." However, experience across many developing countries revealed that economic growth alone could not eliminate poverty, inequality, unemployment, and social exclusion. These limitations led to a broader understanding of development, giving rise to the concept of human development. The economic growth approach focused primarily on increasing national income through industrialization, capital formation, technological advancement, and infrastructure development. Governments adopted policies that encouraged ________ ____ _____ ____ ____ __________ _________ ______.
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