Economic Growth And Economic Development

908 Words4 Pages
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
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