English Abstract A large scale of foreign assistance or aid has been provided from developed to developing countries throughout the second-half of the 20th century. However, only a few countries out of beneficiaries succeeded in economic development. This has provoked a controversy over on the...

At the close of World War II, there were wide-ranging debates about the future of economic developments. Historical experience has since shown that these forecasts were uniformly too pessimistic. Expectations for the American economy focused on the likelihood of secular stagnation; this topic...