1994 | OriginalPaper | Buchkapitel
Development: Economic and Human
verfasst von : Charles Smith
Erschienen in: Economic Development, Growth and Welfare
Verlag: Macmillan Education UK
Enthalten in: Professional Book Archive
Aktivieren Sie unsere intelligente Suche um passende Fachinhalte oder Patente zu finden.
Wählen Sie Textabschnitte aus um mit Künstlicher Intelligenz passenden Patente zu finden. powered by
Markieren Sie Textabschnitte, um KI-gestützt weitere passende Inhalte zu finden. powered by
In Chapter 1 we distinguished between actual and potential growth. In this chapter we will discuss development, both economic and human. First, however, we must define ‘development’: is it the same thing as growth? The word ‘development’ signifies changes which are permanent. It is true that actual growth can sometimes lead to a ‘ratchet’ effect, where a country continues to achieve a progressively higher level of welfare. However, it is quite possible for actual growth to be short-lived: during a war, for example, a country might achieve remarkably high growth rates; but its physical output would be turned to dust immediately as bombs and missiles are exploded, and at the end of this growth period the country as a whole could well be worse off than before.