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.
In a duel held in Weehawken, New Jersey, Vice President Aaron Burr fatally shoots his long-time political antagonist Alexander Hamilton.Hamilton, a leading Federalist and the chief architect of Americaâs political economy, died the following day.hat happened next is agreed upon: Burr shot Hamilton in the stomach, and the bullet lodged next to his spine. Hamilton was taken back to New York, and he died the next afternoon. Few affairs of honor actually resulted in deaths, and the nation was outraged by the killing of a man as eminent as Alexander Hamilton.