Munich Personal RePEc Archive

On the Social Dynamics of Economic Development

Odedoyin, Stephen (2015): On the Social Dynamics of Economic Development.

[img] PDF
MPRA_paper_94427.pdf

Download (572kB)

Abstract

The paper examined the sociological foundations of economic development, specifically how the behaviour of human groups in productive economic engagements results in variations and growth in the level of per capita income across various countries of the world. Descriptive technique was employed in the consideration of how the social mechanism influenced output growth on the one hand and also economic development on the other. The study concluded by noting that quintessential significance of group dynamics in economic activity though not highlighted the interdependence among people needed for continous output growth to occur in an ever increasing individualistic world, therefore social interactions would remain the bedrock of all economic and productive engagements as well as technological advancements as long as time remains or ever the world exists.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.