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Development is a founding belief of modernity and a bedrock concept of political economy and social policy. Though understood and conceptualized variously to give rise to many versions of it,  the idea of  development, in the most basic sense, means making ‘a better life for everyone’.

Economics, particularly development economics, is often criticized (and rightly so) for its narrow approach and increasing disconnect from the real world. Increasing inequality, persistent poverty and failure to create employment are all issues currently facing the world that economics does not seem to be addressing adequately.