Economic Growth and Development Mesurement

Question: Development continues to be valued and expressed in terms of statistical indicators, with sparing ontogeny a blusher indicator of carry throughr. Yet, others have noted that, The creation of a world(a) pass with flying colors of slums, containing almost unitary-sixth of the of the worlds creation (1 billion) is one tone of this process. McMichael, Development and Social Change, 2008, p. 9 To what design is stintingal growth an appropriate measure of developing? construct reasons for your answer. It is presupposed that countries, which achieve an increase in the total amount of goods and service produced per doubtfulness of the existence, or what is called rough-cut Domestic Product (GDP) per capita or Gross National Product (GNP) per capita (McMichael 2008, p.47; Deb 2009, p.41), have been characterized as escalating on the economic ladders of development in order to elude from the determine called underdevelopment (Sacks 2005, pp.12-16; Will is 2005, p.69). Economic growth, therefore, becomes the goal of societies and states to devise their development policies for enhancing these statistical indicators as the fundamental measurement of development in both developed and developing nations over the past centuries (Deb 2009, p.15; Escobar 2002, p.82).

Although economists argue that economic growth is the only way to measure the standard of breathing of people and to eradicate poverty (Escobar 2005, p.140; George 2000, p.9), it is often noted by critics that economic growth results in the deterioration of social and environmental conditions of the popula tion (Levy 2003, p.3; McMichael 2005, p.470;! Tomas 2000, p.10). It is the likes ofwise McMichael (2008, p.9) points out that the creation of worldwide belt of slums, containing about one-sixth of the worlds population (1 billion) is one measure of this process. In order words, the process and success of development is not simply measured by numeric indicators like GDP and GNP...If you want to get a broad(a) essay, order it on our website: OrderCustomPaper.com

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