What I Understand From Term ‘Development ” From what I understand from the term, a developed country, it is the dividing line between an advanced country and a developing country. It is generally based on per capita income. Those with per capita incomes of less than one fifth of the level of those in the US are considered ‘undeveloped’. The definition is very similar to explanation of wealth and poverty.
It also suggests the balance of power between the two countries which are at different stages of development. This definition of development is not totally agreeable because it for a country’s national income to grow quite substantially without benefiting the poor sections of the country as much as the rich. In fact further development could elevate poverty. This approach emphasizes development now became a synonym for social improvement and could only be measured by the extent to which the social objectives were achieved. My personal definition of ‘development’ is to include not only basic needs but emotional m spiritual and political needs as well. Freedom in political sense is important, but freedom from ignorance, misery and hatred will contribute to our spiritual needs.
Development is the multi dimensional process whereby societies improves their living standard, reduce inequalities and abolish poverty among their members. The state of development theory is not of a standard that enables us to make generalised statements. IUt sounds very. However the term development just cannot be measures on statistics and incomes of the population. It needs to be investigated whether the income i equally distributed and whether there is an availability of various services..
The Term Paper on Definition of Middle Income Trap
... developed countries in terms of high-skill innovations. As the Asian Development Bank describes, these countries cannot “compete with low-income, low ... For example, in some poor areas, the government poverty alleviation and disaster relief funds were frequently misappropriated ... According to the latest definition of The International Monetary Fund in 2013, the ‘middle-income trap’ is the phenomenon ...
