1. The obstacles of development (The case of developing countries)

2. The Obstacles are… (Todaro – Smith, 2010)
Lower levels of living and productivity
Lower level of human capital
Higher level of inequality and absolute poverty
Higher population growth rates
Greater social fractionalization
Larger rural population but rapid rural-to-urban migration
Lower levels of industrialization
Adverse geography
Underdeveloped financial and other markets
Lingering colonial impacts such as poor institution and often external dependence

3. A lawyer who has not studied economics is very apt to become public enemy – Justice Brandeis