Economic development is defined as the economic well-being of countries, regions and communities by improving factors such as health, education, working conditions, national and international policies and conditions of the market. It can also be defined as an effort to raise living standards by increasing real incomes and increasing the tax base. The concept of economic growth is different from economic development because economic growth focuses on increasing specific measures such as GDP (gross domestic income) or per capita income. While economic development covers the broad idea of ​​improving literacy rate, life expectancy, health, education, infrastructure, etc., GDP does not take into account leisure, weather, social justice , freedom and environmental quality. Therefore, economic growth is not sufficient to measure the development of a country. The Change in the Concept of Economic Growth In the 1950s and 1960s, when many developing nations achieved their GDP goals but their standard of living did not change, it made them realize that something was wrong with this narrow definition of development. Subsequently, many economists and politicians have planned a more precise approach to consider poverty, the increasingly unequal distribution of income and the increase in unemployment. So in the 1970s came a new definition of economic development defined as the elimination of poverty, inequality and unemployment with a growing economy. “Redistribution from growth” then became a common concept. Dudley Seers raised the fundamental question in defining development when he said: “The question to ask about the development of a country is therefore: what has happened to poverty? What happened to unemployment? What happened to inequality? If at the... paper center ......at the products which was a stimulus for the growing local demand which led to the creation of large-scale manufacturing industries. These export earnings in the 19th century helped developing nations borrow money in capital markets at lower interest rates. This capital gain in turn caused further production, increasing the possibilities for imports and specialized industrial structures. Basic scientific and technological development has played an important role in the modern economic growth of developed nations. Furthermore, the process of scientific and technological progress in all its phases has been limited to developed countries despite the growth of India and China as destinations for the research and development activities of multinationals. In terms of the search process, low-income countries have been more disadvantaged due to the greater amount of capital required.