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Strength And Weaknesses Of Measuring Development

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For this assignment I have chosen to discuss the topic above, the strength and weaknesses of a measure of development. When choosing a measure of development I found it quite difficult to pick just one. There are many ways to measure development today such as economic measurements such as GDP/GNP/I and then Human Development Index (HDI) for example. The measurement I have chosen for this assignment is an economic measurement that is GDP also known as Gross Domestic Product and GNP/I.
Now I will discuss this in more detail, first of all we must know what GDP is to fully understand it. GDP is how a country’s economy is measured; it is how we know what a country is producing, the total output of everything produced e.g. The Republic of Ireland. To sum it up in a brief statement it is the complete value of what a state is producing. It is a great way to tell what a country is excellent at producing and how certain economies can change and grow or decline from year to year. GDP can be measured in a variety of ways such as growth rate for example growth rate is the increase in …show more content…

It can show the wealth of an economy, yes, which is great but it doesn’t mean that there are problems with residents in that state. The economy can be booming but there can still be many issues, an example I have chosen to use is the country we live in, Ireland. Ireland’s economy has grown so much since GDP fell in 2008, but there are many issues. Homelessness is a big problem in this country in this decade we are in. It has risen from 25% from August 2016 to August 2017, with over eight thousand residents being homeless. This shows that even though our GDP is increasing it means the wealth is not being distributed in an equal way and the way it is distributed should be thought over by the leaders and powers with authority in this

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