Economic growth is a necessary but not sufficient condition of economic development.'
'Economic growth is a necessary but not sufficient condition of economic development.' There is no single definition that encompasses all the aspects of economic development. The most comprehensive definition perhaps of economic development is the one given by Todaro: 'Development is not purely an economic phenomenon but rather a multi - dimensional process involving reorganization and re orientation of the entire economic and social system. Development is a process of improving the quality of all human lives with three equally important aspects. These are: . Raising peoples' living levels, i.e. incomes and consumption, levels of food, medical services, education through relevant growth processes. 2. Creating conditions conducive to the growth of peoples' self esteem through the establishment of social, political and economic systems and institutions which promote human dignity and respect. 3. Increasing peoples' freedom to choose by enlarging the range of their choice variables.' Economic growth may be defined as an increase in a country's ability to produce goods and services. Economic growth merely refers to an increase in the real Gross Domestic Product, or GDP per capita over a period of time. It is natural to be misled by the idea that economic growth is the key to economic development and perhaps a condition of development itself, but development is more than
"Environmental degradation is neither the inevitable price of, nor a desirable path for, economic development
"Environmental degradation is neither the inevitable price of, nor a desirable path for, economic development." (UNDP, et al, 2005) Introduction Environmental degradation is now apparent on a global scale. In addition to the deterioration of what were once considered free goods (such as air and water), escalating scarcity of natural resources, deforestation, desertification and threatened bio-diversity are now commonplace across the spectrum. There are certainly no reservations over the scale of this degradation, however there is much controversy concerning the apparent environmental degradation - economic development nexus. Many have argued that short-term tradeoffs exist in the form of environmental degradation, for superior long-term economic gains. One of the positions put forward is that environmental degradation is the result and inevitable price of economic development. This viewpoint is based on the Environmental Kuznets Curve, regarding environmental degradation as the 'necessary evil' for achieving 'economic development' and suggesting that environmental assets are degraded in the early stages of economic development, only to improve after some income threshold has been passed at a later point. In the last decade, extensive literature has argued that a direct link between environmental degradation and economic development is too simplistic and that the
To what extent is the oil crisis of 1973 a turning point in postwar economic development?
Chin Ying Lin Olivia (2) 6L 07/02/2010 To what extent can the oil crisis of 1973-4 be regarded as a turning point in the development of the international economy? The 1973 oil crisis was an event when the members of Organization of Petroleum Exporting Countries (OPEC) proclaimed an oil embargo in response to the U.S. decision to re-supply the Israeli military during the Yom Kippur war and lasted until March 1974. In this essay, a "turning point" is defined to be a landmark- an event marking a unique or important historical change of course or one on which important developments depend. While acknowledging that the oil crisis certainly had dramatic and lasting impact on the development of the international economy: in terms of signifying the start of a worldwide shift in power away from the U.S for the first time, bringing about catastrophic repercussions on the international economy and also leading to the formation of the G-7 ; to regard it as a " turning point" would be an overstatement, due to the temporary nature of the crisis, as well as preceding events such as the collapse of the Bretton Woods System, and the continuity of dominance of the US in the global economy, albeit with lesser power than before the oil crisis. All these suggest otherwise: either that other events qualify more as a "turning point" than the oil crisis, or that there remained continuity of
influences of genetic, environment and socio economic factors on the development of the individual
Lifespan Development Assignment describing the influences of genetic, environment and socio economic factors on the development of the individual. There are lots of factors that can influence development, for good and bad. The environment around us can affect our development. So can socio economic factors. Genetic factors can influence development also. I will be exploring these in my essay. Each individual will be affected differently by influences on development. Some will be affected more, some will be affected less. Genetics Down's Syndrome Down's syndrome affects one in 1,000 babies born. Down's syndrome occurs when there is one extra chromosome present in the gene makeup. Down's syndrome is the most common chromosomal disorder, and one of the most common causes of learning difficulties. Some are more severely affected than others. It is not known why Down's syndrome happens. Women born with Down's syndrome will generally have a shorter lifespan then men. (This is the opposite to people not born with Down's syndrome) There is no cure for Down's syndrome but a range of support and treatment is available to improve the quality of their life. With treatment and support the average lifespan of someone with Down's syndrome is about sixty years. Physically, babies will look slightly different to other babies - e.g. Their eyes may slant upwards and outwards,
Development through life stage
P2 Describe the potential influences of 5 life factors on the development of individuals. For this assignment, I will prepare a PowerPoint on one of the Life factors to share with the class. We will be looking at five main factors that influence the individual development. From the note taken in class, I will then write a report by describing each of the four life factors. As an individual, there are many life factors that influence our development. These life factors are: * Genetic factors * Environmental factors * Socio-economic factors * Life style The general topic that is related to these life factors are nature and nurture. We can be genetically and environmentally influenced. Genetic factors and biological influences before birth Every individual has a gene, which is the basic unit of heredity. We all depend on genes. It holds the information to build and maintain an organism's cells and also passes genetic traits making a new person. Genetic is passed on to us from our parents. For example, nature could be eyes colour, hair, and IQ. Even though, half of our gene comes from our mother and half from our father, still our genetic patterns can be different from our parents. However, regardless of any serious genetic conditions being incurable can be maintained in order to live a healthy. For example, people who are born with PKU in the UK can go on to leave
Development is hazardous to natural and build environments
Developing country areas will decrease the amount of poverty throughout all of Asia, including the assistance to the countries economic growth. The development of road built infrastructure, water availability and aid will assist in the reduction of poverty. "Infrastructure development is a driving factor that can affect poverty negatively and positively. Infrastructure is important for poverty reduction. This can be the case where development aid, road construction or water and sanitary investments have been made with poverty reduction in mind." - (Environmental Knowledge of Change) The increased development and aid from more developed countries would help reduce the amount of poverty in many developing countries, also helping the population's health while helping to deteriorate the amount of poverty driven families. Economic growth can be helped by increasing the amount of contact within inland areas around Asia. "Rapid economic growth in recent years has put enormous pressure on Asia's transport, energy, and communications infrastructure. Unless these can be improved, they will continue to be a bottleneck to growth...Better connectivity with inland areas, for instance, would boost trade and economic growth in both coastal areas and inland...Following the 1997-1998 Asian financial crisis, countries with significant investments in infrastructure recovered faster than
Explain the economic and political deficiencies of the C A P
Explain the economic and political deficiencies of the C A P To answer this question it is essential first to state the objectives of the Common Agricultural Policy, as stated in Article 39 of the Treaty of Rome. ) to increase agricultural productivity by promoting technical progress and by ensuring the rational development of agricultural production and the optimum utilisation of all factors of production in particular labour. 2) To ensure thereby a 'fair' standard of living for the agricultural community, in particular by increasing the individual earnings of persons engaged in agriculture. 3) to stabilize markets. 4) to provide certainty of supplies. 5) to ensure supplies to consumers at reasonable prices. The second part of the essay looks at why such a policy was deemed necessary, and also how far politics can account for the consistent failure of the Community to deal with its problems. But the first part concerns why in economic terms the policy is fundamentally flawed. The problems of the C.A.P. go deeper than economic theorising as to why the policy itself has created imbalances within the agricultural system. They are fundamental. `Economic logic dictates agriculture to be a major contributor to economic development. This is true especially in the primary stages, whereby it releases resources to other sectors. By increasing its own productivity the labour
Discuss the benefits of economic growth
Discuss the benefits of economic growth Economic growth is simply, in the short run, the rise in real GDP due to rise in aggregate demand: and in the long run an increase in productive capacity (the maximum output that the economy can produce), meaning that the Factors of Production are either more efficiently used or more are discovered or found. Governments tend to try and achieve economic growth as it has many advantages, one of which is higher employment levels, which incidentally should lead to a decrease in unemployment. If more people who are willing and able to work in a country have a job (and therefore earning an income) the GDP of that country will inevitably increase and so if this high employment rate is stable and sustainable, economic growth, in the long run, will occur. Hence, employment figures could be seen as proportional to the GDP of a country. The employed workers are a Factor of Production called the labour force. If there is unemployment, then our Factors of Production are not being used as efficiently as possible and so the point on the Production Possibility Frontier will not be on the frontier itself, indicating that economic growth is not occurring as the productive capacity will not be increasing. However, if low levels of unemployment are sustained consistently, then you are using at least one Factor of Production to its full extent and so the
Economic Influence on a Business
Economic Influences Economic influence is when a business is affected in any way by the economical factors. Economic Factors are the main elements that affect financial matters of a business like tax, interest rates, banks and stock markets. There are different ways in which different economic factors can affect a business for example the taxation is one of the main factors that can affect a business, it can affect the business because they have to pay tax to the government on the energy they are using or they have to pay some profit that they make to the government as tax. Interest rates are charged on every loan that a business takes from the bank, this can affect a business because if they keep on borrowing the loan they would have to pay extra money back to the bank this can affect a business in making profit. Stock market is where the Longleat's stakeholders can buy shares and invest in business because they get a slice of ownership in the company, their company can be completely taken over. As a large business Longleat has to face a number of economical factors such as taxation, interest rates, labour. Stock markets is not one of the important factors faced by Longleat because Longleat is a private limited company and it would only give shares to the investors it selects. Factors such as tax are common in every business, Longleat has to pay tax to the government such
Piaget's and Freud's Child development theories
In the mid twentieth century the interest in child development grew, more in-depth research took place and a large number of theories arose .Two theorists that had great impact on child development in this era were Jean Piaget and Sigmund Freud. Jean Piaget's research is centered around life stages of cognitive developmental theory, also how children adapt to their environment with the use of schemas, accommodation and assimilation. Like Piaget, Freud also developed a process, which involved stages of development called psychosexual theory. Psychosexual theory centered on the sexual drive and consists of 5 stages of development in children. Freud also divided the mind into three personality parts the id, ego and super ego; these become integrated into the 5 stages of psychosexual development. (Berk, 2009) Jean Piaget was born in 1896 in Neuchatel, Switzerland. Piaget was an intelligent child who took an interest in biology and the natural world at a young age. After Graduating Piaget went on to teach at Grange- Aux-Belles Street School for Boys, Where he worked along side the creator of the Binet Intelligence Test, Alfred Binet. Piaget discovered while marking the Binet Intelligence Test, young children were making wrong answers on certain questions that older children and adults did not. This lead to Piaget's research into young child development. (Vialle & Verenikina,
