Adam Smith Theory of Economic Development | Adam Smith Classical Theory of Growth |

In this video, we explain briefly the views of classical economist, Adam Smith about the classical growth theory. In classical theory of economic development, Smith analysed that division of labour and capital accumulation as the main factors which were responsible for growth and growth can be sustained, in the classical theory of economic growth as per Adam smith if rate of profit is sufficient for capital accumulation. In this video, we have also analysed, how stationary state is reached in classical theory of growth by Adam Smith

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Lecture 1 : Development Economics : Classical Growth Theory | Introduction to Adam Smith and Ricardo |
http://y2u.be/XZu6N-WybA8

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This is useful for those who are preparing

1) Indian Economic Services
2) UPSC Economics Optional
3) UGC NTA NET Economics
4) Basics of MA Economics Entrance Exam (DSE/ISI/JNU/IGIDR/MSE)

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