What is the concept of the development, Microeconomics

What is the concept of the development?

The concept of the development:

Development is a complicated multi-dimensional concept to do along with enhancements in the human well-being

• Growth is only one dimension of development. Development does not necessarily mean growth.

• Development is measured through outcomes that is development arises while key indicators of human well-being enhance

• The HDI is better way of measuring development than national income statistics but is yet flawed

• Growth is a process involving change. Structural modification is painful creating winners as well as losers and a loss of customs

• Countries can be illustrated but not stereotyped

Country-by-country progress within development/growth can be measured against UN Millennium Development objectives.

Posted Date: 8/26/2013 6:57:16 AM | Location : United States

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