Economic Development And Economic Growth

Our cities offer close proximity to services, entertainment and employment. Building high density housing within reach of the main sectors of the hub

People are now leaving the inner city areas in search of quieter and more relaxed atmosphere to raise their family. This growth has brought many Americans face to face with our changes in social,economic and industrial areas that supports this massive growth in the outer areas surrounding our major cities.

The global demographic trend has become a subject of discussion by researchers, policymakers, and the mass media. Economic performance in any country is, to a substantial degree, affected by the country’s demographic situation. In recent decades, the developed countries have been experiencing declining fertility rates that caused serious shortages of the workforce. Besides, the plunging fertility rates have led to the phenomenon called “ageing population” which has become a socio-economic reality in many developed countries and which has put a big strain on their pension systems. Furthermore, in 2014, there was a campaign tagged “Do it for Denmark” where Danes were encouraged to go for more babies to check the decreasing birth rates. On the other hand, the poor economic performance of especially developing economies is related to their demographic growth; therefore, funds are allocated for campaign against their population growth. The importance of the relationship between population growth and economic development has been well recognized by development economists. As Dawson and Tiffin (1998: 149) have pointed out, “most textbooks on economic development include a section on population and development”.

Belize’s development is an important economical, environmental, and political issue which continues to be the subject of discussion. Historically, Belize has passed through many stages of development, originating from a hunter and gathering society, during the Mayan revolution, to a post industrial society, following the advent of computers. Technological improvements, freedom of trade and the creation of a global market are some factors that have fuelled this rapid rate of development. The gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country's economy. Belize has experienced times of economic prosperity, recording 8055.43 USD per capita GDP in 2014 and has had economic hardships of 5168.29 USD per capita GDP in 1990. Currently, Belize is experiencing what economist term a negative growth, recording a GDP of -1.2 Percent. Economic development is “the process by which a nation improves the economic, political, and social well-being of its people”. Economic development in any country is necessary for the quality of life and standard of living to be improved. The term “impact” must be considered in relation to development and the environment. Every form of development has a cost or environmental risk associated with it. In the 1980’s, there was a shift to a new kind of development often termed an alternate development. The establishment of the Brundtland Commission paved the pathway for future aggressive plans designed to

Chapter 7, “Principle 1: Base Your Management Decisions on Long-Term Philosophy, Even at the Expense of Short-term Financial Goals” illustrates factors that ought to be considered in business in order to influence success. However, despite the influence of self interest, demand, and supply on financial system, there is the dark side in pursuit of self interest as the main factor influencing economic growth. This is seen in major scandals of major organizations. This has influences shortage of jobs and high rates of unemployment. As illustrated in this chapter, it is evident that short term profits earned by organizations can influence big contributions to organizations. Toyota is one of the major organizations that has proofed that this is

High and sustainable economic growth is the main condition for the sustainability of economic development and increase prosperity. As the population increases each year, the consumption is also increasing. Further more, demand, supply and population growth also require employment growth as a new source of income, because if not so then economic growth will lead to poverty. Many economics literatures review the correlation between income inequality and economic growth and the results show that inequality negatively affected economic growth (Boushey and Price, 2014). Moreover, Ravallion (2014) argued that, particularly in developing countries, initial inequality and changes in inequality in the period of economic development influence economic growth. Economic growth can be derived from the growth in aggregate demand and aggregate supply. For that reason, income inequality should be at the forefront of many developing countries’ policy agenda, and this essay, on the other hand, focuses on how inequality in income affects economic growth, particularly in the aggregate demand side.

Over the years, there has been much debate over whether the state plays a role in the economic growth and development of a country. Some believe that the state is essential, arguing that its intervention promotes investment, mobilizes industry and capital, and creates jobs. Some view it as an obstacle, claiming that its role should be deregulated and reduced because its involvement can lead to market distortions and corruption. Some do not like either argument, declaring that the state is less important compared to other factors in determining the development trajectory of a country. These factors include geography, ethnic diversity, conflict, and political institution. I believe that the last position is the strongest; while the state does play an important role in growth, it is not the most important. I believe that the political institution a country operates under is more significant to dissecting this relationship than the intervention of the state.

Governments the world over have long been investing in infrastructure in the hope of boosting economic development of their country. To study the relationship between infrastructure and economic development, we compared two journals; Infrastructure and Local Economic Development by Rives, J & Heaney, M. (1995) and Infrastructure and Economic Growth: The Nigeria Experience 1980-2006 by Enimola, S (2010). We chose these journals as the journal by Rives, J looked at the approach on a community/state level whereas the journal by Enimola, S looked at it at a national level. Hence, we were able to look at the topic at a micro and macro level. We compared the objectives of both journals, along with the methodological

The causes of economic development in a nation can vary, but popular arguments for their success is the geographical location of that nation, and their amount of natural resources. The broadening of economic wealth for a nation could lead to many outcomes, such as conflict, shifts in power, or a complete transfer in political ideology. From the late 1880’s through the 1920’s there was an exponential jump in the economic growth of Latin America. This spike was the result of the harvesting of Latin America 's immense agricultural resources that were exported to many nations. Latin America 's massive development of economic trade precisely compelled a liberal ideology among the nation and lead to internal conflict, power shift in social classes, and political reformation.

Education is the key to global economic growth and prosperity. For any educational institution to compete in the global market, it must invest in higher education in a manner that is productive, accountable and reactive to the contemporary needs of its population. Over the past decade, institutions of higher learning have experience a significant paradigm shift of the role of information technology. It has evolved from being solely a support function to becoming a leader in innovation for these institutions. This has allowed many to perform a system wide alignment of information technology with the institution’s larger vision and mission through developing a technology strategy.

The relationship between economic growth and its determinants has been examined extensively. One important issue is whether population leads to employment changes or employment leads to population changes (do ‘jobs follow people’ or ‘people follow jobs’?) To explain this interdependence between household residential choices and firm location choices, a simultaneous equations model was initially developed by Carlino and Mills (1987). This modeling framework has also been applied in various studies to investigate the interdependence between migration and employment growth or migration, employment growth, and income jointly determined by regional variables such as natural amenities (Clark and Murphy, 1996; Deller, 2001; Waltert et al., 2011), public land policy (Duffy-Deno, 1997, 1998; Eichman et al., 2010; Lewis et al., 2002, Lewis et al., 2003; Lundgren, 2009), and land development (Carruthers and Mulligan, 2007).

Today, many countries are involved. We cannot get rid of economic if we want to talk about development. The term economics can be defined as the science of how people and societies deal with their limited resources to satisfy their unlimited wants (Miller, 2012). The development of a country is based on many characteristics, such as the average income per capita, level of education, the death rate every year, the population health, and many more, but the most important characteristic is the economic activity of a country, therefore it should be promoted over any type of characteristics.

In this write-up, I examine the idea of development and briefly looked at its historical development until the age of neo-liberal and market propelled development we are current witnessing with a view to proposing directions for future development. As I do these, I will examine the of this importance development for Africa.

The most imminent threat to our planet is our ignorance. Every time we choose to disregard, the problems we face continue to cultivate. The Sustainable Development Goals are one of the most recent initiatives to realize the danger the planet faces. Of the numerous environmental issues included in its schema, one is energy. More specifically, the need to warrant accessibility and affordability of modern energy to everyone across the globe.

The study of economic growth focuses on the long-run trend in aggregate output as measured by potential Gross Domestic Product (GDP). Increasing the growth rate of potential GDP is key to raising the level of income, the level of profits, and the living standard of the population.