The process of socio-economic change is an intrinsic part of human civilization. Man has been striving ceaselessly to discover the secrets of nature and thereby benefit immensely in creating a peaceful, rich life for himself and his fellow-beings. Man has benefited by agricultural, indus trial and information activities. According to J.K. Galbraith, there are three types of economic development that are currently in vogue. These are symbolic modernisation, maximised economic growth and selective growth. Economic growth is the sine qua non of change and better living standards. Over the years, a middle-of-the road social democratic thinking is becoming consolidated.
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