Economic Development Measure
Introduction: Defining Economic Development is controversial, since we usually think in terms of underdevelopment rather than development when measuring the least developed countries. According to the textbook The Geography of the World Economy, “the term ‘development’ implies a trajectory of improvement in relative and absolute terms” (p 23). However, if we look at leading economists, nongovernmental organizations, scholars, and world leaders the term has been considered to include social well-being. Most of the Economic Development Measures only focus on how the economy is going in a country. They don’t extend to measuring the effects of people’s lives within that community. If we look at this term through a broader lens, we can begin to …show more content…
In order to measure human development we need to look at the well-being of a society. Therefore, the HDI includes three main dimensions: a population’s overall health, education attainment and standard of living (Keenan). Along with these three main dimensions, the HDI includes basic indicators to be able to measure the economic development of a specific country. This index focuses on: life expectancy at birth, which is uses to measure the knowledge and longevity; a measurement of education within the communities and finally, GDP per capita at purchasing power parity (PPP). To better understand why the HDI is the best model for ‘economic development,’ lets expand on it and define it in this paper as the process in which the principal objective is to improve the quality of people’s lives. The HDI model is about enlarging the freedoms and opportunities of the members of each community. This concept was created due to the fact that the commonly used measure, GDP, had failed to address the measure of well-being. Therefore, the HDI was created to capture the capabilities of human development. This index goes beyond just the measurement of income, and it includes as well an education and health index in its final calculations for each country. The three main building blocks of well-being and opportunity can be agreed upon by most to be a long …show more content…
Basu, Rupsha. “About the Human Development” Measure of America of the Social
Science Research Council, 2017. Web.
“Human Development Reports.” Human Development Index (HDI) | Human Development Reports, hdr.undp.org/en/content/human-development-index-hdi.
Jahan et al. “Human Development Report 2016: Human Development for Everyone” Published for the United Nations Development Programme, 2016: (200-250). Print.
Keenan, M. "Human Development Index (HDI)." Salem Press Encyclopedia, 2014. EBSCOhost, lp.hscl.ufl.edu/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=ers&AN=98402115&site=eds-live
Ross and Willigen. “Education and the subjective quality of life.” J Health Soc Behav.
1997. Print
Staff, Investopedia. “Human Development Index - HDI.” Investopedia, 23 May 2015, www.investopedia.com/terms/h/human-development-index-hdi.asp
Knox, Paul, et al. The geography of the world economy. Routledge,
Calvin Coolidge Scholarship Essay
533 Words | 3 PagesThey say that I have no impact. That my words have no weight in a planet of over seven billion people shouting to have their voices heard. In a world plagued with famine, war, and global warming, it is normal to feel as though we do not have any influence in the crises of our planet. However, I believe that change begins with just one person. Receiving the Calvin Coolidge scholarship would allow me the opportunity to transform my dreams into existence.
Industrialization Dbq
583 Words | 3 PagesIndustrialization was a catalyst of tension between laborers and the owners of capital which then led to political reform, as well as thousands of immigrants coming to America looking for work. Industrialization was a cause of tension between laborers and the owners of capital. The Gilded Age was a time with large and rapid economic growth, and additionally helped capitalism strengthen in America. Industrialization and innovation sparked more, unregulated manufacturing where the capital owners’ net worth boomed.
Industrialization Dbq
424 Words | 2 PagesIn the late 1800’s to the 1920’s the United States made a positive impact by improving the country by creating jobs and better products to live easier. Industrialization had a positive impact on the United States society because without it today we wouldn't have the things we use each day to have an interesting life. The Industrial Revolution created jobs for many American citizens. Over the next couple years the United States grew its population by offering this opportunity to all kinds of immigrants that came here to the United States with their families. For example one reason why the Industrial Revolution had a positive impact on the U.S society was steel (entry 3).
The Wealth And Poverty Of Nations Summary
1459 Words | 6 PagesThese are often styled north and south because the division is geographic. Here is the greatest single problem and danger facing the world of the third millennium.” In this book review, I plan to talk about why it is geography is having an impact on poor people’s lives more than the rich such as how those living in disaster-vulnerable areas do not get as much help or improvements as a develop country would if struck by a catastrophe. Also, I will be talking about how big the gap between the rich and poor is and whether its growing or not according to the author who looks at this problem historically since the best and easiest way to understand this problem would be by asking why and how did we get to where we are
John Bodley's Price Of Progress
248 Words | 1 PagesJohn Bodley’s article, “Price of Progress”, argues that America and other developed countries worry about economic development less than developing countries. The economies in developed countries believe that every culture should be full of progress. Progress in economies is defined by how high your income is, how high your standard of living is, greater security and how good your health is. The most common used measure of progress is one’s standard of living. The lowest class of people is the tribal people who have different cultures and lifestyles and they find ways to survive on their own.
Health Inequality Essay
772 Words | 4 PagesAt the end, I will suggest methods to solve the health inequality. Definitions of ‘Health’ ‘Absence of diseases’ is a common definition of health within our society. However, it cannot completely express the definition of health since health is affected by many factors but not only biological and physiological. An official definition of health by the World Health Organization is, ‘Health is a state of complete physical, mental, and social well-being, not merely the absence of disease or infirmity. The enjoyment of the highest attainment of health is one of the fundamental rights of every human being, without distinction of race, religion, political beliefs or economic and social conditions’ (World Health Organization, 1948).
Should Everyone Go To College Isabel Sawhill Analysis
411 Words | 2 PagesNot only does college increase one’s possibility of higher earnings, furthermore his or her skills will be enhanced by simply attending. Owen and Sawhill state that, “Research suggests that additional education improves overall wellbeing by affecting things like job satisfaction, health, marriage, parenting, trust, and social interaction” (pg. 210/para. 3). In fact, college can help an individual manage his or her time, money and also help with problem solving, as well as social interaction. Therefore, the complete college experience helps an individual improve him/herself in everyday
Why College Has Value Essay
711 Words | 3 PagesMy last reason why college degrees make healthy living easier is because College graduates are significantly less likely to smoke than their counterparts. They are also more likely to maintain a regular exercise routine and a healthy weight. This evidence supports my main idea because it tells you what a college degree person would less likely do and more likely do
Persuasive Essay: Is College Education Worth It?
763 Words | 4 PagesIt is easy to think college is not worth the cost to become better, but getting educated makes people better, and happier in the future and sometimes even in better health (Leonhardt 25 ). Becoming a better and happier person is good for everyone. Even former President Obama says “‘Education helps us be better people. It helps us be better citizens. You came to college to learn about the world and to engage with new ideas and to discover the things you 're passionate about -- and maybe have a little fun’”
Life Course Perspective: Understanding Human Development
853 Words | 4 PagesAll these factors impact a person and the community (Richards, Picket,
Essay On Right To Health
1025 Words | 5 PagesHealth is the most important factor in national development. Through this definition World Health Organization has helped to move health thinking beyond a limited, medicine and pathology based perspective to the more positive domain of well -being. The right to health is one of the basic rights of human beings. Right to health is a vital right without which no one can exercise one’s basic human rights. In the Indian society right to health is an issue of fundamental importance.
Disadvantages Of Economic Growth
1571 Words | 7 PagesINTRODUCTION 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.
Essay On Political Freedom
1146 Words | 5 PagesIntroduction Development of any society requires participation of people from all sections of the society and the opportunities for utilization of the existing potentialities of people for good governance and development. Right from the days of community development programs, people’s role and their involvement have been stressed.
Ag Frank Underdevelopment Summary
1478 Words | 6 PagesA Critical Review of Development of Under-development by AG Frank Development of Underdevelopment is one of the most critically acclaimed works in development literature. It was written by Andre Gunder Frank, one of the most respected scholars in Development discourse. Frank argues that an all encompassing and comprehensive theory of development can only be fairly developed and articulated if the historical circumstances of the colonial and underdeveloped regions of the world is also taken into account. He challenges the diffusion theory and. He advances the notion that underdevelopment in most underdeveloped regions of the world is generally a result of interaction or linkages between the developed and the underdeveloped world.
Essay On Economic Growth And Economic Development
1597 Words | 7 PagesMore specifically, economic development looks at the quality of life in a country, with determinants such as mean years of education, access to healthcare, average income per person (measured in GDP per capita) indicating the living standards of a country. Factors that can lead to economic development include foreign direct investment (FDI), increased quantity and quality of human
More about Economic Development Measure
Calvin Coolidge Scholarship Essay
533 Words | 3 PagesIndustrialization Dbq
583 Words | 3 PagesIndustrialization Dbq
424 Words | 2 PagesThe Wealth And Poverty Of Nations Summary
1459 Words | 6 PagesJohn Bodley's Price Of Progress
248 Words | 1 PagesHealth Inequality Essay
772 Words | 4 PagesShould Everyone Go To College Isabel Sawhill Analysis
411 Words | 2 PagesWhy College Has Value Essay
711 Words | 3 PagesPersuasive Essay: Is College Education Worth It?
763 Words | 4 PagesLife Course Perspective: Understanding Human Development
853 Words | 4 PagesEssay On Right To Health
1025 Words | 5 PagesDisadvantages Of Economic Growth
1571 Words | 7 PagesEssay On Political Freedom
1146 Words | 5 PagesAg Frank Underdevelopment Summary
1478 Words | 6 PagesEssay On Economic Growth And Economic Development
1597 Words | 7 Pages