Whereas economic development is a policy intervention endeavor with aims of economic and social well-being of people, economic growth is a phenomenon of market productivity and rise in GDP.Consequently, as economist Amartya Sen points out, economic growth is one aspect of the process of economic development. Economic development' is a term that economists, politicians, and others have used frequently in the 20th century. The concept, however, has been in existence in the West for centuries.
Alexander Hamilton played a key role in building the American government by serving on Washington's staff for the revolutionary war from 1777-1781. He was the first Secretary â¦ of Treasury and did much to put the federal government on a firm fiscal basis.
4. Alexander Hamilton and his eldest son were killed under similar circumstances and in the same location. On July 11, 1804, Alexander Hamilton was shot and mortally wounded by Vice President Aaron Burr in one of the most famous duels in American history.Though this was Hamiltonâs firstâand lastâduel, he was certainly no stranger to the practice.. Alexander Hamilton and his eldest son were killed under similar circumstances and in the same location. On July 11, 1804, Alexander Hamilton was shot and mortally wounded by Vice President Aaron Burr in one of the most famous duels in American history.