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 was one of the most prominent founding fathers in American history. He was the Secratary of Treasury under George Washington, and he had a lot of influence on the economic policies and decisions that were made. He was a Federalist, so he supported a government that was more involved.
Alexander Hamilton, author of Federalist No. 70. Federalist No. 70, titled âThe Executive Department Further Considered,â is an essay written by Alexander Hamilton arguing for the unitary executive provided for in the United States Constitution.t was originally published on March 15, 1788 in The New York Packet under the pseudonym Publius as part of The Federalist Papers and as the fourth in Hamiltonâs series of eleven essays discussing executive power. Hamilton argues that unity in the executive branch is a main ingredient for both energy and safety.