Indicators of development
Economic development usually refers to the adoption of new technologies, transition from agriculture-based to industry-based economy, and general improvement in living standards (www.businessdictionary.com). In addition, economic development expands the availability of work and the ability of individuals to secure an income to support themselves and their families. Economic development includes industry, sustainable agriculture, as well as integration and full participation of global economy. On the contrary, Mayhew (1997) refers to sustainable development as development that meets the needs of the present without compromising the ability of future generations to meet their own needs, not simply the use of resources at a rate at which could be maintained without diminishing future levels, but development which also takes social implications into account. In addition website borgenproject.org/5-examoples-sustainable-development highlights that sustainable development can be reduced to two key concepts: needs and limitations. The needs, of course, being those of the world’s poor, ‘the needy’. The limitations are those imposed by the state of technology and social organization or the environment’s ability to meet present and future needs. The term ‘indicators of development’ is also known as development indicators. Indicators of development are measured for a specific place and time and are typically used to represent, compare and monitor complex development issues such as poverty overtime and between countries and regions. Indicators of development are therefore a key mechanism for measuring progress toward development objects. For indicators of development to be effective they must communicate useful information; enabling situations to be understood and decisions made. Indicators must be both meaningful, that is, accurately portraying what is happening and the resonant, allowing people to group the relevance to their own lives (http://www.eep.erostat.ec.europa.eu). Indicators of development that are used by the World Bank include details of birth, and death rates, fertility, life expectancy, health, urbanization, industrialization, production, consumption, investment, Capital, income, education, energy consumption and trade. Indicators of development have several uses, that is, they allow us to use a figure for comparing different countries, countries can be ranked in an attempt to fairly allocate Aid payments and indicators give us an idea about what the country is like economically, socially even environmentally. Social indicators are used to assess how well a country is developing in key areas such as health, education and diet. Three social indicators that will be assessed with regards to their effectiveness as measures of development are Life expectancy, Literacy rate and Infant mortality. Life expectancy speaks to how long a person in a given country is expected to live. Average number of years taken for males and females over an extended period of time depends on factors such as health care, education and poverty. Certain factors have to be considered when assessing the effectiveness of life expectancy as a measure of development. That is, life expectancy would encompass the health status of a given country, in that, one has to try and ascertain whether or not the population have access to medical care, what level of health care is available, whether it is basic or advanced or is it free? One has to also look at the typical or average nutritional intake of that population as well as the level of crime. If a country’s life expectancy falls within or above 75% it is then deemed as a developed country. It would therefore suggest that numerous advanced health care services are available both on a public and private level, nutritional intakes are acceptable and as such would eventually promote a healthier lifestyle which will eventually lead to longevity. On the other hand a country that has a...
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