AS explained in Todaro and Smith , traditional economics is concerned primarily with the efficient, least-cost allocation of scarce productive resources and with the optimal growth of these resources over time so as to produce an ever-expanding range of goods and services.
Development economics, to a greater extent than traditional economics and political economy, must be concerned with the economic, cultural, and political requirements for effecting rapid structural and institutional transformations of entire societies in a manner that will most efficiently bring the fruits of economic progress to the broadest segments of their populations.
While one might think that this is predominantly an economic question, economics relies primarily on the premise that resources are scarce, particularly those that come from the earth. Thus, sustainable utilization of resources has increasingly been the utmost priority of concerned organizations, at the helm of which is the United Nations, as it rolled out the Sustainable Development Goals in 2015.
The political ecology model highlights the importance of including the distribution of power in the discourse on resource allocation, which, once analyzed, can be evaluated in order to improve the efficiency and the equity of the allocation through better coordination and policy-making .
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