Why is an understanding of development crucial to policy formulation in developing nations? Do you think it is possible for a nation to agree on a rough definition of development and orient its strategies accordingly? How does the concept of “capabilities to function” help us gain insight into development goals and achievements? Is money enough? Why or why not?

Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
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Chapter21: Economic Development
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Why is an understanding of development crucial to policy formulation in developing nations? Do you think it is possible for a nation to agree on a rough definition of development and orient its strategies accordingly?


How does the concept of “capabilities to function” help us gain insight into development goals and achievements? Is money enough? Why or why not?

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