Before or during the 1950s, development was measured in the form of measurable indices like Gross National Product (GNP), Gross Domestic Product (GDP), labour cost, balance of payment and trade, etc.
It was the period described as capitalism without human face, otherwise raw capitalism. It was during this era that many writers like WW Rostow, Adam Smith, along side others were calling for a more investment in the market so that the GDP and GNP will rise. After the post-war, many countries have witnessed a sharp rise in economic growth, but the problem of poverty and other humanitarian needs were still pending. Therefore, this led to the rethinking of development in the 1960s.
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