Economic development , Microeconomics

Economic Development

The word development is from the Latin root ‘Voloper’ which meant wrap up, envelop. The English used this word along with ‘des’ meaning ‘undo’. The word used was ‘disvelop’. The French replaced this word in 1656 with ‘develop’ which meant unfold or unwrap. The act of unwrapping may also be interpreted to mean expanding, diversifying, redistributing the contents. The popularity of the term development began with decolonialisation.

Going through several conceptual metamorphosis through the decades, currently development is taken to mean economic growth that is contributed by a large cross-section of the population which in turn would also mean large scale employment, increasing incomes and a resultant appreciation in the quality of life of the people. The distributional effects of growth [i.e. ‘growth with and through justice’ policy or the ‘equality in growth’ dimension] are incorporated in the current conception of development.

Posted Date: 12/17/2012 2:39:03 AM | Location : United States

Related Discussions:- Economic development , Assignment Help, Ask Question on Economic development , Get Answer, Expert's Help, Economic development Discussions

Write discussion on Economic development
Your posts are moderated
Related Questions

Calculate the cross-price elasticity of demand between computers and printers, where a 10 percent decrease in the price of computers results in a 15 percent increase in the quantit

factor influencing quantity supplied

identify three factors to criticize the theory of consumer behavior or utility theory

brife note on demand

how does the concept of possibility production curve aplicable in real life?

Amartya Sen''s concept of poverty and welfare.

If the average variable cost curve is horizontal, what is the shape of the short-run marginal cost curve? What shape would the short-run average cost curve be?

#quesExamine the expenditure trends over the last 40 years. What are the direction and magnitude of changes in spending in and between these various categories (with the exception

Working Capital: A business requires a certain revolving fund of finance to pay for regular purchases of initial labour, raw materials and other inputs to production. Working capit