Economic development of any country is determined by large number of social factors as well. Economic development of any country depends on the efficient employment of factors of production such as land, labor, capital and organization. The people must have the required ability, experience and knowledge to make the best use of the facilities available. Adoption of technology can yield results only when appropriate social conditions are present. Economic development requires innovative personality. Early socialization and nature and content of education to which the child is exposed decide largely the emergence of innovative personality.
In some societies the children are taught to solve problems independently and encouraged to be creative but in traditional societies more importance is given to conformity. For its fast growth technology requires a favourable cultural support. Adoption of technology in a meaningful manner involves a preparatory stage. The western societies have developed over decades the cultural traits and social conditions appropriate to technology. Population growth is not a stimulant to development. Because of the lack of industrial capital the growing labour force cannot find jobs in the cities. Rapid population growth in labour surplus economies may mean that open and disguised unemployment increases as a percentage of the labour force the reversal of successful development.