Economic development can be defined as a sustained community effort to improve both the local economy and the quality of life by building the area's capacity to adapt to economic change (Loveridge and Morse). This definition suggests a distinction between economic growth and economic development.conomic development can be defined as a sustained community effort to improve both the local economy and the quality of life by building the area's capacity to adapt to economic change (Loveridge and Morse). This definition suggests a distinction between economic growth and economic development.
Hamilton was born out of wedlock in Charlestown, to a married mother of British and French Huguenot ancestry and a Scottish father. His father, James A. Hamilton, was the fourth son of laird Alexander Hamilton of Grange, Ayrshire. Orphaned as a child by his mother's death and his father's abandonment, Hamilton was taken in by an older cousin and later by a prosperous merchant family.
Alexander Hamilton was born on January 11, 1755, on the island of Nevis in the West Indies. His Scottish father and French mother were not married.