Inclusive growth is a strategy of economic development which aims at providing an equitable share of economic growth to the largest section of the society. There is a fine distinction between direct income redistribution and inclusive growth. The focus of inclusive growth approach is on productive employment. This approach takes a long time and allows people to contribute to and benefit from economic growth. But it is important to know whether Inclusive Growth can be attained without compromising Sustainable Development or not. Sustainable Development can be defined as a balance of fulfilment of human needs with the protection of the natural environment to meet these needs in the indefinite future. Appropriate Technology is the key element …show more content…
It will build a strong network of rail and road corridor, modern farming, recreational areas, toilets, retail and manufacturing, including civic amenities like quality education and 24x7 electricity and healthcare facilities. The Introduction of climate change technologies will reduce the carbon footprint from industries and other sectors. Strong Literacy programmes will bring about a change in women, farmers, children and senior citizens. It will reduce the burden of the influx on cities, and automatically link local production with local procurement and distribution in a local network. It will increase the wage rates of farmers, women and other working class people of the villages. Creation of such networks involves fixed costs which need to be recouped through long periods of use. Clearly, mobile phones have done wonders and mobile banking lowered the fixed costs faced by traditional banks. Thus, Smart villages will transform the face of real India by reducing the disparity between rural and urban …show more content…
For instance, under the UPA government’s flagship JnNURM over a nine-year period, only 50% of the actually promised funds were disbursed. Likewise, even in this case, it remains to be seen how much the government delivers on the execution front. Secondly, one of the major fears with regard to smart villages is whether the seeds of development would reach the urban poor. Thirdly, would the policies that have been framed under the smart cities mission really benefit them and enhance their quality of life. Finally, the central government is still in the process of making the policies in consultation of the state governments and the urban local bodies to channelize the investments and resources for successful
This initiative brings back much-needed control to communities by promoting local agriculture and providing capital growth to these areas as well.4 Another possible solution in areas that are able to support
Physical capital is another issue for rural economic development. Rural communities lack financial resources to build and maintain reserve infrastructure capacity as is often needed with incoming companies. With the costs of building and maintaining infrastructure rising and
The economy changed as well, due to the revolution, because of the war period there was respect for debt, taxes and agriculture. The direction for the development of economic growth was still a quarrel between the North and the South. A good example for the Northern view point on economic growth is Alexander Hamilton. Alexander advocated for the development of an economy based on industry with a central focus on urban growth. However, Anti-Federalists or, the Southern viewpoint, thought it best to have an agrarian society that contained large slave populations.
Between 1800 and 1900, the United States experienced great economic growth. Two factors that contributed to this growth were government policies and technological developments. America at the time was experiencing cultural and industrial revolutions at a rate that most other new nations, even today, could ever dream of. Government policies and technological developments had a huge influence on the American economy and shaped its character to an extent that defined for the future magnitude of success that it would see throughout the century. Policies such as the National Road and the tariff tax, and technological developments such as the cotton gin and the production of railroads, all contributed to the economic growth of the United States.
Income inequality, a topic that under normal circumstances is strongly opposed. Many Americans have believe that the wealth gap should be reduced because it hurts our economy. George F. Will proposes that income inequality is actually beneficial to our society and wrote “How Income Inequality Benefits Everybody”, Published in 2015 on The Washington Post. Wills primary claim in the article is to convince readers that income inequality is not necessarily a bad thing. He claims that because America’s capitalistic system permits for enormous wealth gaps it diminishes the gaps between lifestyles.
Economic inequality in the state of Alabama, not just Birmingham, was quite prevalent in 2005, and is still very prevalent today. According to Weinberg in an article published by the United States Census, Alabama was one of seven states that ranked highest in economic inequality. Birmingham, was also one of the highest ranked cities for economic inequality in metropolitan areas of over one million in the United States. On the Gini index scale, which ranks a score of 0 as perfect equality and 1 as inequality, in 2005, Alabama recorded a score of 0.471, while Birmingham ranked slightly higher at a rank of 0.472 (Weinberg). This shows within the median income in Alabama, which in 2005 was $44,759, while the median income of the United States was $56,122, a 20% difference.
The problem of income inequality is not something new, but it is something that people must worry about because it is affecting not only our wallets, but our communities as a whole. I agree on the author’s point of view about income inequality in the United States his position is very similar to another Robert Reich documentary called “Inequality for all” where he mentions all the aspects that brought United States economic system to a hold just to help a fraction of all population one of those systems was education where before the nineteen eighties it was cheaper to go to college than nowadays or the fact that workers were pay almost the same as any other for their sacrifice . Going back to the video on debate he mentions how policies changed
Rural broadband is known as the ability to connect to the Internet efficiently from rural areas in the country and world. It is believed that the increase of rural broadband can stimulate economic growth in such areas. Currently, about 13.1% of U.S. households do not have access to broadband (Singleton, 2015).West Virginia in particular is considered heavily underserved. Currently 29% of the state’s population is underserved, making the Mounain State one of the 5 fewest connected states in America ( “Broadband in West Virginia”, 2017).
Growth Mindset Definition Essay In this paper I will be explaining the concepts of a growth mindset, a growth mindset is when people appreciate a challenge. I will not only be talking about the definition, but I will also tell you what a person with a growth mindset is like, they are optimistic. They would rather solve a problem they run away from it. I will go into depth about how they act when faced with certain challenges and everyday things in life such as relationships or stretching their abilities.
I agree with the assertion that in the context of Sustainable Development ‘the reality of life today is that the economy dominates environment and society. The Concept of Sustainable Development Sustainable development refers to “meeting the needs of the present without compromising the ability of future generations to meet their needs”, and was produced by the Brundtland report (WCED, 1987). The concept also takes into account the needs of the poor in developing countries by outlining achievable objectives of importance (WCED, 1987).
Globalisation is a key factor in today’s modern society with it spreading to even the most remote and poverty ridden continents of the world. It shows how something as simple as a mobile phone can help spread this on a global scale. Africa is the world’s poorest continent with people earning from 75p to £1.50 a day, after taking a closer look and researching into mobile phone use in Cape Town, Zanzibar and The Gambia it shows how local people’s lives are being changed due to the use of a mobile phone. In Africa alone the use of the mobile phone has increased by 65% in the last 5 years[1], this being the first method of ICT that has actually been adopted by locals due to the low price of a handset. Mobile phones are a technologic advancement that have been around since the early 1980’s, they were first seen as a fashion accessory in countries with good economic climates that could afford the very expensive handsets.
Sustainable development is a model that aims to link the idea of what is to be sustained, with what is to be developed, and focuses on three pillars, economics, social and environmental (Kates, Parris, and Leiserowitz, 2005; pp. 3). As a holistic approach it seeks to develop the three pillars, on a local, regional and global level. This paper will analyse the concept of sustainable development and the strengths and weaknesses of this approach will be discussed. Firstly, a background of this model will be presented, which will explore the three pillars. Secondly, the strengths and weaknesses will be evaluated, and lastly, a brief contrast will be provided of the opinions of sustainable development between the Global North and Global South.
INTRODUCTION Economic growth is defined as the increased capacity of an economy to be able to produce goods and services in comparison from one period of time to another. This is figured by the genuine Gross Domestic Product (GDP) and development, and is measured by utilizing genuine terms such as “Balanced Inflation”. These terms help to remove any distorted views on the perceived outcome of inflation on the cost of merchandises produced. Likewise, Economic growth is related to the high expectations in a person’s standard of living. If the standards are high, it wouldn’t be beneficial for the economy as the working class individuals will face a lot of trouble.
Kahn’s (1995) approach to the sustainable development theory is consistent with the modern day development techniques of Europe 2020 priorities; smart growth, sustainable growth and inclusive growth. The adoption of some innovative strategies such as the utilisation of renewable energy as an integral part of the energy mix could result in growth of the economy, which will eventually trickle down to the poor or extend to the rural or disadvantaged areas of the country. The social sustainability generally explains the idea of equity among the people, empowerment, participation, accessibility and institutional stability. It seeks to ensure a good standard of living in the country by alleviating poverty. Environmental sustainability seeks to explain the ways in which exploitation and utilisation of the natural resources will not be made to negatively affect the environment or the health of human beings (Kahn 1995).
Economic growth and economic development In measuring and identifying the factors that stimulate the growth of the economy of a nation such as the Republic of India, a distinction needs to be made between economic growth and economic development. For a nation to experience economic growth, there must be an increase in the gross domestic product (GDP), which is a qualitative measure of the value of all finished goods and services produced in that country within a period of time. However, economic development which is usually measured through the human development index (HDI), includes not only an increase in the output of goods and services, but an improvement in the welfare of individuals within a country.