There are many definitions of development economy?

Question

definition of development-economy related, social development and so on. what do u think is the best description of the term development in today society?

Answer 1

I would say growth..

Answer 2

My definition would encompass a couple domains:

economic development: high per capita gdp. industrial or post industrial economy. very low absolute poverty ($1/day). effective infrastructure. competitive markets. easy to start a business. wide selection of products in stores.

social: universal primary education. near universal literacy. majority of population with high school diploma. strong middle class. no existing social structures that prevent social mobility. low rates of death from contagious diseases. high life expectancy. equal rights for men and women. equal rights for minorities.

political: some form of democracy. freedom of speech and religion. social safety net. stable government. minimal bribery needed for everyday life. rule of law. protection of property rights (including intellectual property). strong courts.