The theory of economic growth emerged in the 1950s as states attached greater importance to growth as an indicator of a country's success. Growth was originally modeled by neoclassical economic growth models, with Harrod-Domar's growth model and Solow's growth model to be emphasized. Neoclassical growth models show long-term stable equilibrium and lack of growth in household income, with technological innovations lacking. In response to neoclassical models, endogenous growth models, due to the lack of neoclassical growth models, emerged during the 1980s. Endogenous growth theories emphasize that unlimited growth in national economies is possible. Economic growth is a measure of the movement of aggregate final production, and divided by the number of inhabitants gives an insight into the standard of living of the latter. By studying the development of economic growth theory, one becomes aware of its emergence and occurrence during influential factors, which facilitates the monitoring and forecasting of economic growth in the present and future. It can be concluded that the primary purpose of achieving economic growth is to provide the foundation for economic development and the achievement of well-being in the country, with increasing emphasis on sustainable growth and development. The aim of the final paper is to explore the history of economic growth development by defining economic growth, exploring theoretical models of economic growth and exploring inequalities in income distribution due to economic growth.