1.What is development?
We live in a world where concepts like human rights and political liberty are part of the day-to-day language yet we also live in a world were deprivation, destitution, and oppression taunt human existence every day. Existence of problems such as hunger, persistent poverty, and violation of basic human rights are undeniably a shame to human life and civilization. The main function of economic development is to overcome these problems. However, different economists approach development in different ways. Some express that economic growth and increasing real per capita income are constitutive function for economic development of a nation. In this paper, I recognize and substantiate that development means expanding the real choices and opportunities of each and every individual. The development potential of a state or a nation is determined by the economic, social, and political opportunities that are provided to its people.
It has been agreed and empirically proven that rising GNP and individual income are intermediate variables that play a prominent part in the process of achieving development but such increasing per capita income levels will be meaningless if determinants such as economic, social, and political arrangements are not given due consideration for expansion in the course of development. Quoting Amartya Sen, “Growth of GNP, and individual income are means for expanding the freedom enjoyed by the members of the society rather than ends in themselves”. Thus, what a nation can accomplish depends on its historical background, political outlook, and social fabric. Real economic development involves introducing key reforms that provide basic facilities of health, education, encouragemen...
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...vate profit or desire for power. The process of development was seen as a movement for social and economic justice.
Thus, Kerala experience demonstrates the unique pattern of social and economic changes that have been taking place as a result of initiatives, both governmental and non-governmental, based on public action. One must keep in mind the optimistic conclusions that are drawn from the Kerala and must realize the true potential of disposed groups and communities in changing the economic framework of a region. Kerala at a very early stage built most of it’s socio- economic policies on the indomitable spirit of individual freedom and liberty that have in turn contributed to the broadening of capabilities and capacities of individual economic agents, had Kerala not realized this, such creditable achievement would not have been achieved.
At one point in time poverty was the general fact of the world. Man was always expected to live on the line of poverty, majority of the economic thinkers couldn’t see the world moving away from this standard but we did and have gained great affluence. As society has grown from this poverty stricken state it once was in, into an affluent one, the ideas used to run it have yet to change in some ways. In The Affluent Society, John Kenneth Galbraith explains how with great economic growth there should be growth in economic ideas as well.
“God’s own country, “Kerala, is a coastal state. It is dotted with small fishing villages. In the 1970s, high waves would wash away many villages with routine hits. So, every year the affected fishermen and women would receive a government compensation for clothing, blankets, nets and even replacement huts. In 1974, an architect living and working in Thiruvananthapuram approached the Chief Minister and suggested an alternate solution. He proposed that instead of giving away State resources as compensation each year,
India, the second highest populated country in the world after China, with 1.27 billion people currently recorded to be living there and equates for 17.31% (India Online Pages 2014) of the world's population, but is still considered a developing country due to it’s poverty and illiteracy rates. As these nations continue to grow at rates that are too fast for resources to remain sustainable, the government’s in these areas wi...
Why nations Fail: The Origins of Power, Prosperity, and Poverty, is a captivating read for all college economic courses. Coauthored by Daron Acemoglu and James A. Robinson, they optimistically attempt to answer the tough question of why some nations are rich and others are poor through political economic theories. They lay it all out in the preface and first chapter. According to Acemoglu and Robinson, the everyday United States citizen obtains more wealth than the every day Mexican, sub-Saharan African, Ethiopian, Mali, Sierra Leonne and Peruvian citizen as well as some Asian countries. The authors strategically arranged each chapter in a way that the reader, whomever he or she is, could easily grasp the following concept. Extractive nations that have political leadership and financial inconsistencies within their institutions are the largest contributor to poverty and despair within most countries. It also states that countries with socioeconomic institutions that work ‘for the people and by the people’, or in other words, focus on the internal agenda of that
As Escobar points out in The Problematization of Poverty, one of the many changes in the post-WW2 era was the "discovery" of mass poverty throughout the world. This "discovery" had massive implications for development discourse. Prior to WW2, development discourse was limited to the colonial experience. But with the end of colonial rule lurking on the horizon, western academics began to formulate theories of economic growth and "modernization." As a result, an entire genre of academic research emerged: the development discourse. The aim of development discourse was to chart out patterns of growth (which were based on the historical successes of the West) that newly independent countries could use, primarily to escape vicious cycles of poverty, famine, etc.
In international parlance, development encompasses the need and the means by which to provide better life for people in poor countries and it includes not only economic growth, although that is crucial, but also human development like...
The economy of a nation is a major indication of its success. One aspect of a nation's economic success or failure is the system of government. Whether a nation is socialistic, communistic, ruled by absolute sovereignty, or based on capitalistic principles can be a key factor in a country's economic success or failure. Government is the foundation of an economy but it is not what determines its success. Issues that determine a nation’s economic success include growth strategies, improved or increased resources, investment and savings, government policies, trade, foreign direct investment, income distribution, labor allocation, innovations in technology, and several other economic issues. I feel that economic growth is the main indicator of economic success. Additionally, innovations in technology, improving human capital, and improving foreign direct investment (FDI) are three issues that can lead to economic growth.
There are at least four different research perspectives about the relationship between development and economic growth. Firstly, economic growth is the basis for social development. Secondly, economic growth and social development are not necessarily linked. Thirdly, both economic growth and social development are not basic causes by each other, but they depend on interaction. Fourthly, social development is the prerequisite for economic growth (Mazumdar. 1...
In order for any country to survive in comparison to another developed country they must be able to grow and sustain a healthy and flourishing economy. This paper is designed to give a detailed insight of economic growth and the sectors that influence economic growth. Economic growth in a country is essential to the reduction of poverty, without such reduction; poverty would continue to increase therefore economic growth is inevitable. Through economic growth, it is also an aid in the reduction of the unemployment rate and it also helps to reduce the budget deficit of the government. Economic growth can also encourage better living standards for all it is citizens because with economic growth there are improvements in the public sectors, educational and healthcare facilities. Through economic growth social spending can also be increased without an increase of taxes.
To attain development, the Government of India has formulated many development strategies without paying adequate attention to the developmental needs of the backward regions. In such a case, the development strategies naturally depend on the market forces to stimulate the developmental process to all part of the country through the trickle down process. But this strategy has not succeeded in many countries including India. Moreover the Indian planners over emphasised the role of big push strategy. But the impact studies showed that the big push strategy in India did not adequately develop the backward regions.
This research paper refers the study with the diversified population of Chennai, tamil nadu. The researcher of this paper believes that a mass of population includes more of low or middle income groups in Chennai. Tamil nadu consists of a mix of all types of income groups. The study uses an intensive literature review to figure out the factors for
Economic growth is the most effective instrument for reducing poverty and enhancing the quality of life in developing countries. The benefits brought about from economic growth is strong growth and business opportunities enhance incentives. This may lead to the rise of a strong and growing group of entrepreneurs, which should generate pressure for enhanced administration. Strong economic growth therefore advances human development, which in turn promotes economic growth. But, under different conditions, comparative rates of development can have altogether different consequences for neediness, the occupation prospects of poor people and more extensive pointers of human development. The extent to which growth decreases neediness depends on the extent to which the poor take an interest in the growth process and share in its returns (Riley, G.
Radu Ban and Vijayendra. (2007). The Political Construction of Caste in South India. Working paper
As a result, research and public policies are designed to try and solve the problems. Dye (2008, p 7) observed that, in the American context the problems faced by communities include; ingnorance, crime, poverty, racial conflict, inequality, poor housing and ill health. It follows that in attempting to resovle these issues there are limitations that disturb the good process of public policy for the benefit of the society. Dye (2008, p 7) said, “there are many reasons for tempering our enthusiasim for policy analysis, some of which are illustrated in the battle over education policy”. The reasons or limitaions include; limits on government power, disagreement over the problem and complexity of human behavior. Argawal and Somanathan (2005, p 13) has discussed the shortcomings to public policy in resovling economic and political issues as excessive overlap between policy making and implementation in the context of India and some of those are; excessive fragmentation in thinking and action, excessive overlap between policy making and implementation, lack of non-governmental inputs and informed debate, lack of systematic analysis and integration prior to policy-making and reforming the policy-making
In a contemporary world, poverty is inter-linked with systemic deprivation of rights and related to the notion of Human Development