Development Essay
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
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