Economic development has been associated with a sustained increase in real per capita GDP over fairly long periods of time. Such growth rates have been associated with the phenomenon of structural transformation both among the (European) “leaders” and the late-comers among the developing countries. Equally compelling, though less pervasive, has been an essentially harmonious relationship between the growth of per capita GDP, macroeconomic stability, and a better distribution of income. Moreover, the incidence of poverty has sharply decreased while the leading indicators of “human development” have recorded a significant improvement wherever per capita income has increased rapidly. This property of economic development christened as orderly transformation in this paper, is one of the most outstanding stylized facts of economic development; and it has been most evident among countries where growth of per capita income has been in excess of 3% per annum.