Essay about Economic Development As A Growth Process

Essay about Economic Development As A Growth Process

Length: 725 words (2.1 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview


Based on my reading I believe it is wrong to think of economic development as a growth process only. Economic development is a process where we improve the over all life of people and try to overcome absolute poverty. Economic development is about increasing income and health care of the individuals. Economic growth is part of economic development it focus on the increase of economic products and service outputs. Economic development includes economic growth; but high economic growth does not mean that the economic development is high too. For example in the case study about Brazil they had high economic growth but the economic development of income per capita was not good. I was really surprised when I read in the textbook about Brazil poverty who believes that 15% of Brazilians live with under $1 per day!
Many countries as discussed in the textbook focus on the traditional economic growth and forget about the people’s developments and needs. Economic development looks at economics for exampling profits and allocating resources in addition to that economic development also looks a...

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Characteristics Of Development Economics And The Process Of Developing Economics

- The development of a country or region include economic development, Innovation of social structure, Improvement of social quality。The input and output efficiency is the manifestation of economic development. Economic development is not only reflected in the accumulation of wealth and the change of economic system, it also includes the change of the whole social system. Whether the per capita welfare increasing and the innovation of social form innovation. They are included in the development of the society....   [tags: Economic development, Economic growth]

Better Essays
1519 words (4.3 pages)

Economic Growth And Economic Development Essay

- When thinking about a solution to poverty the general public seems to reason that economic development is the answer. When considering economic development one would need to know the meaning of it. Economic Development is the sustaining of concerted actions of policy makers and communities that promote the standard of living and economic health of a categorical area or community. Economic development can withal be referred to as the quantitative and qualitative transmutations in the economy. Such actions can involve multiple areas including development of human capital, critical infrastructure, regional competitiveness, environmental sustainability, convivial inclusion, health, safety, liter...   [tags: Economics, Unemployment, Economic growth]

Better Essays
982 words (2.8 pages)

Analysis of Singapore's Economic Development Essay

- 1 INTRODUCTION This paper will first describe how two nations sharing similar history went on their different paths in developing their economies. Then, this paper would describe three components that helps maneuver Singapore towards outstanding economic development based on 3 principles 1) leadership 2) strategy and 3) implementation. Thirdly, negative implications that may have been brought about by the development policies will be discussed in Section 4. Lastly, the conclusion would be underlined....   [tags: Macroeconomics, Economic Development]

Better Essays
1992 words (5.7 pages)

Essay on Economic Growth And Development Of Australia

- Economic growth is an increase in capacity of an economy to produce goods and services, compared to from one period of time to another. The Gross Domestic Product (GDP) found within in an economy is formally used as a measuring point for how an economy is growing or performing within its framework of economic components. Gross domestic product itself is the total market value of all final goods and services produced in an economy over a period of time. By utilizing the data presented from ones economic growth, individuals can determine the trends, precise statistics and the events to come within a country’s future in order to develop forecasts and decisions based on an economy’s current cour...   [tags: Economic growth, Economics, Gross domestic product]

Better Essays
1227 words (3.5 pages)

A Comparison of Economic Growth and Development: Pakistan and Similar Countries

- ... From 1975 till 1995 there was not much difference between Israel, Malaysia and Pakistan. After 1995 till 2005 among these three countries Israel has had the highest annual GDP (Gross Domestic Product). After 2005 till date Malaysia has taken over and has the Highest GDP (Gross Domestic Product) among the three countries. Out of these four countries Pakistan has the lowest annual GDP (Gross Domestic Product). GDP Per Capita The GDP (Gross Domestic Product) per capita will give us further insight into the economic well being of each of these countries....   [tags: natural reources, economic growth]

Better Essays
2910 words (8.3 pages)

Global Economic Development Essay example

- History of Economic Development Capitalism and Colonization • Capitalism as an economic system spread beyond Europe, mainly to North America and Australia. Descendants of the English and French colonists grew in number and with new immigrant waves, primarily from Europe. • However, in Africa, the Indian Subcontinent, East Asia, and in Latin America the indigenous people were relatively numerous. • The colonists created an administrative structure, which encouraged or more likely coerced, the indigenous peoples to produce primary products for export to the home countries....   [tags: Economic Development Essays]

Better Essays
2865 words (8.2 pages)

Adam Smith 's Theory Of Economic Development Essay

- Adam Smith believed that economic growth was determined by the size and productivity of the labor force. To Smith, an economy experienced growth when its labor force size or labor productivity grew, and thus total production grew. Smith’s theory of economic development focused on the elements involved in the production process, and it starts with man (the individual); the supplier of labor. He believed that human’s natural desire to consume more inspires us to develop systems and structures that maximize output....   [tags: Economics, Economic growth, Sociology]

Better Essays
858 words (2.5 pages)

Development is a Form of Exploitation Essay

- In my opinion, I absolutely agree that development is a form of exploitation. Even though that concept of development is a contested concept, but according to Rostow (1960), the concept of development is connected to the economic growths which linked to economic performance. In general, development happens for the pursuit of economy. Then, Rostow (1960) seen development as an increase of production and efficiency and measured primarily by comparing the per capita income. Dimensions of development are diverse; economic, political, social, environment, technology and so on....   [tags: modernization, economic growth, domination]

Better Essays
1114 words (3.2 pages)

Essay on The Growth Story of India

- “In India, everything and it’s opposite is true.” The term economic growth implies an increase in the nation’s real GDP, and more importantly, an increase in the nation’s per capita income. When we are analyzing a nation’s economic growth, we are basically studying as to how that economy is advancing in quantitative terms. Economic development, on the other hand, is a much more encompassing term which includes both the qualitative as well as the quantitative dimensions of economic progress. Not only does it include the aspect of economic growth, but it also considers the process by which an economy improves the economic and social well being of it’s citizens....   [tags: economic growth, Indian economy]

Better Essays
1013 words (2.9 pages)

Economic Growth and Development Essay

- Economic growth is a necessary but not sufficient condition of economic development. There is no single definition that encompasses all the aspects of economic development. The most comprehensive definition perhaps of economic development is the one given by Todaro: ‘Development is not purely an economic phenomenon but rather a multi – dimensional process involving reorganization and re orientation of the entire economic and social system. Development is a process of improving the quality of all human lives with three equally important aspects....   [tags: Economics]

Better Essays
884 words (2.5 pages)