Differences Between Economic Growth And Development

Differences Between Economic Growth And Development Introduction From a traditional economic perspective, development may be viewed as economic growth related to the rise in GDP, per capita income and infrastructural adjustments in the economy relative to population changes. However, in a simpler and more refined view, development may be taken to mean the improvement in quality of life of the population through poverty eradication, reduction of inequality, reduction of unemployment and demographic control measures. The traditional view on development focused more on the trickle down effect of wealth to the masses in to influence the real per capita GNP which was assumed to grow at a higher rate than the growth in population. Primarily, the trickle down effect involved creation of employment opportunities and enhancement of distribution of economic and social benefits through planned structures of production and employment. The current view on economic development has been focusing more on poverty eradication through establishment and achievement of development goals that may include reduction in disease, illiteracy, unemployment and social/economic inequality. Moreover, many institutions actively involved in enhancing global economic development, including the World Bank, United Nations, World Food Program, world Health organization and International Monetary Fund among others have come up with development goals whose core values may include ensuring everybody is able to sustain basic needs, enhancing societyà ¢Ã¢â€š ¬Ã¢â€ž ¢s self esteem and enhancing freedom from servitude. Despite these efforts, the gap between the developed and the developing countries and the issue of inequality in distribution of wealth are still evident. Moreover, a lot is expected to be achieved through the millennium development goals of 2015 which encompass eradication of poverty, enhancing universal education, enhancing gender equality, enhancing child and maternal health, combating HIV/Aids, ensuring total environmental sustainability and enhancing global partnership. However, these efforts are being hampered by the financial crisis, food crisis, political crisis and climate change, all of which have tended to be the mainstay in the contemporary world. This paper will discuss the subject of economic development and its impact to the contemporary society. Historical view of development The classical economic theorists clam that economic development involved the growth in total output relative to the growth in population and changes in per capita income on real GNP of an economy. Although they focused on elimination of poverty as the main goal of economic development, they based such an agenda on the wealth creation and distribution through division of labor and capital concentration in competitive capitalist environment (Cypher and Dietz, 2004, pp. 109-110). Although the difference in economic development between the poor and the rich nations may be attributed to the earlier years of slavery and colonialism, the asymmetrical growth in population as compared to food production may be one undoing factor in decelerating economic development. According to Cypher and Dietz (2009, p. 114), Malthus, a classical economists, posited that population did tend to increase at a geometric progression while food production/output increased at an arithmetic progression which indicated that there was overuse in the fertile land under cultivation and the subsequent surge in population would more than worsen the disreputability of the limited food reserves. In their view, economic development would be achieved through distribution of economic wealth to the people with an aim of enhancing the social well-being since the society was divided into haves and have-nots (Willis, 2005, p. 63). Modern Economic development view Generally, economic development is taken to mean the measure of the level of social-economic welfare of the people in a national economy. The current focus on economic development has been the sustainability of the social welfare through poverty eradication, eliminating unemployment and eliminating inequality. In a more broader sense, there may be a buffer between economic growth and economic development in that, while economic growth will measure the rate at which the GNP and per capita income are changing, the latter may be realized with or without economic growth and it involves social and structural changes such as demographics, environmental sustainability, political relations, literacy levels, social diversity and health. According to Hoff and Stigliz (2001, p. 391), the government ands markets as the determinants of economic development coupled with institutions, wealth distribution and historical ideologies, all of which have affected the developmental patterns in the world economies especially in the developing nations. While the institutions influence the direction of transaction costs in the economy, wealth distribution impacts on the economic efficiency and thus creating influence on the developmental adjustments in the economy. Mookherjee and Ray (2001, p. 118) view that wealth distribution affects saving, investment, and production structures thus influencing occupational choices and institutional adjustments that tend to explain the difference between the developed and developing economies. Measuring economic development As a measure of socio-economic welfare, economic development aims at achieving various objectives which include availing and distributing human basic commodities, improving the standards of living through provision of social amenities and job creation, and aligning the social and economic choices available to the society. In the contemporary economic environment, the gap between the poor and developed nations has remained to widen, despite the developing nations having a higher economic growth rate in the recent years. However, the globalization of trade has enhanced economic development especially through reorganization and reorientation of economic and social systems as well as improvement in household incomes and economic output (Todaro, 2009, p. 68). The attainment of millennium development goals according to United Nations (2009) provides a clear measure of economic development in the world economies. Despite the deadline being 2015, there has been developmental progress especially in areas related to literacy, gender equality, primary health care, global partnership and environmental sustainability. However, the HIV/Aids remains to be one of the stubbing blocks on development especially in Africa where poverty is much higher than in other parts of the world. Barriers to economic development The economic crisis (as experienced recently), the food crisis, adverse climatic changes and political warfare (civil strife and external sanctions) have remained to be the hindrances to the attainment of the economic development (World Bank, 2009). For instance, the globalization effect has led to environmental degradation and pollution resulting to interference with climatic changes that have created threat to food production (Meier and Stiglitz, 2001, 170). In addition, recently witnessed financial meltdown may slow down the realization of developmental goals due to its effect on investment patterns and interference with wealth distribution. Conclusion Economic development may be differentiated from economic growth due to the difference in measures and effects to the society. For a nation to experience economic development there must be structural adjustments that focus on the attainment of human wellbeing. Sound economic policies should be available to ensure that all the fundamentals that influence economic development are addressed fully and comprehensively.

Disneyland: Now and then

I remember being a child and enjoying the smallest bit of happenings here and there. I remember watching cartoons and laughing till my stomach ached. I remember being innocent and lively. I remember going to Disneyland. My memories from back then are very clear and crisp in my mind even today. Disneyland is the dream world for kids and a place for perfect retreat. I can still think of the day when I was eleven and I was about to see Disneyland for the first time. I couldn’t restrain my enthusiasm and excitement as we entered the main gates of the land filled with magic and amazement.That’s how I perceived Disneyland when I was eleven; a land of wonders. I couldn’t wait to see Mickey and Donald smiling back at me. All the fun and frolic came alive to me, as I stepped in to the magical land of fairy tale. Today when I think about Disneyland, I do not contemplate it as a magic land or a land of wonders. For me, it is just any other amusement park or theme park, noth ing added. But what surprises me is the way my perception has changed towards the same thing in due course.Disneyland is the same; in fact it is believed to have grown for better in these years. But for me, it no longer remains a place of magic or enchantment. It only tells me one thing, I have moved far ahead and my childhood is still behind, lost in the memories of Disneyland. Disneyland meant to me, making the world of animation and cartoon come alive. Mickey Mouse, Donald Duck, Goofy and Bugs Bunny were one of my favorite cartoon characters ever and watching them alive was like a dream come true.I remember being excited by the thought of seeing those characters in front of me. Like, when I was eleven, I ran with exhilaration to shake hands with the legendary Mickey Mouse. I couldn’t let his hand go; moreover, I hugged him and curled into his arms like he was my teddy bear. I asked my dad to take bundle of pictures with Mickey and Donald. Later, I framed those photographs and hung them up on the wall of my room. Moreover, for a long time, I thought of the moment I met Mickey, when I watched cartoon back at home.However, today, when I think of it, I feel a tinge of embarrassment. I would never hug Mickey Mouse or Donald Duck for that matter. Although, sometimes, I watch Mickey Mouse and Donald Duck cartoons on television, I do not think of those characters as real cartoons. I understand the fact that they are real people under the disguise of these famous cartoons trying to woo kids and entertain them to their best. I feel taking pictures with them as a laughable act and something only kids would want to do.My excitement level is as normal as it would be when I am at home, watching those cartoons. Additionally, when I first went to Disneyland Park, I had enjoyed and jumped in high spirits even for the all the small rides. The miniature circus train with cars designed as wild animal cages, the crazy tea cup ride, the chip and dale tree house, exploring Goofy’s house, the flight to fantasyland with jumbo, the merry go round, all made me roar out in laughter and eventually, I enjoyed every bit of my ride.The rides were long, simple but very enchanting. The joy found in those simple things was incomprehensible and ceaseless. The moments seemed to be so prized and exceptional, that even a camera couldn’t bind it in its flashlights and tape. When compared to the latest trip, the experiences, however, beg to differ. The rides seem to be ordinary, just like any other ride, in another amusement park. Every ride tries to test the patience by making us fall from huge heights, in dangerously simulated situations and backgrounds.All thrill rides seem to endow with higher risks, higher heights, more velocity and more twists. Even after finishing a single ride of few minutes of length, there is no sense of delight or bliss. The feeling of joy in the small things seems to have lost. It’s just not about having fun anymore. I t is only about moving from one ride to another, trying to finish as many rides as possible. Furthermore, when I was young, I remember being excited about the main street parade. I was so keyed up to watch the parade that I blocked seats an hour before the parade actually began.I was overwhelmed with the stunts and performances of all the characters. Consequently, I struck my eyes all along, without moving an inch. I waited till the end of the parade and not for a moment, thought about leaving early. Each character performing in the parade was special in its own way and I admired them all equally. Nonetheless, now when I think of it, it doesn’t seem to be as astonishing as before. Even though the performance of the artists remains of high caliber and incredible excellence, I do not seem to be attracted towards it.I remember the last time I visited Disneyland, my concerns were more towards driving back home. I didn’t want to block seats an hour before; neither did I wan t to stick till the end. I was getting late and I was more worried about the traffic. As a Conclusion, I believe that things change with times. Also, the way we perceive things, changes with changing times. When we are young, innocent children, we are ignorant to worries and responsibilities. Also, life seems much dreamier and everything looks like a play area.As we grow older, we seem to intertwine in the complications of life and start losing the small joys we can experience in moments of life that may seem insignificant and diminutive. The moments that are filled with immense joy and blissful entertainment are no longer observed. Life becomes fast with growing age and even a beautiful thing passes by, without being noticed. A place like Disneyland, that meant so much to me at one time in my life, no longer holds the meaning it used to. I seem to have lost my innocent childhood in the fast life, in the race to achieve something more.

Amazing Grace Film

The movie Amazing Grace tells the enthralling story of the life of William Wilberforce, an enthusiastic abolitionist. His lifelong struggle to end British slave trade inspired the hymn that most everyone is familiar with. Driven by the belief that God’s grace is sufficient for anyone to be saved, Wilberforce devotes his life to a noble cause with the assurance that grace will â€Å"lead us home† in the end as is written in the hymn. The characters and the universal, hope-inspiring themes create an exciting, successful film that leaves the viewer feeling rejuvenated. William Wilberforce is a kind-hearted person with a love for providing humanitarian aid. In the movie, he feeds poor people and encourages people to treat animals with kindness and respect. From his attitude and his actions, Wilberforce introduces the theme that a passionate individual can, with God’s help, change the world if he or she is willing to persevere. Wilberforce emphatically insists that God created all men as equals and as such, he made it his life’s work to convince the Parliament to get rid of slavery. During the time period in which the film takes place, millions of African-Americans were taken and forcefully put into slave labor on sugarcane plantations. The conditions were inhumane and most died during the sea passage before ever reaching land. It is striking to think that one brave man, upheld by moral integrity, was able to stop this cruelty and change the course of history. At the young age of twenty-one, Wilberforce is elected into the House of Commons with goals that he believes can be achieved. His primary goal is to get the institution of slavery abolished. He is old enough to know what he wants done, yet still young enough to believe that he can do it. John Newton, William’s childhood friend, acts as a mentor to him and is the primary reason that he puts his convictions into action to abolish slavery. The relationship between them in the movie is stirring as their scenes together include grappling with the dynamic between faith and action as well as social responsibility. The Prime Minister is also an important character who introduces the theme of political survival versus doing what is right for a great cause. The most inspiring part of this movie is the eventual success in ending slave trafficking and slavery itself. Wilberforce ended up being the person to drive abolitionist legislation into play. Luckily, Wilberforce lives to see the day that his is legislation passed and legalized just days before he passes away. Wilberforce was so devoted to the cause that he sacrificed his personal health. Amazing Grace is an excellent film that restores a little bit of faith in humanity. With its positive themes and remarkable characters, the viewer is inspired by the encouraging message of persistence, faith, and the ability of an individual to change a nation through the grace of God.

A Midsummer Night s Dream Essay - 854 Words

A Midsummer NIght’s Dream A â€Å" Midsummer Night’s Dream† is a classical play written by William Shakespeare. It is one of his more eccentric piece of work. The play is about the struggle of love between four essential characters: Hermia, Lysander, Demetrius , and Helena. However, it is not quite that simple. The play is quite confusing. In â€Å"Midsummer Night’s dream† the play take place in two realms fairy realm and human realm, two of the three main settings. Another one of the settings take place inside the cottage of a carpenter Peter Quince. At one point during the play the realms converge Making it difficult for the audience to distinguish the difference between reality and illusion within the play. This is one of the many reasons the play is interesting or appealing. Also to add on, the symbolism of the tile and moon, and comedic elements within the play serves engage and intrigue. The beginning of the play begins in Athen during the light of day, reality. 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