Ure 4.2 Economic growth and development We have sted eur scan feel! by aden ery ead tesa Be cet of deopment Monee ch of te iene and miking aa evant oases a economics Inet “eeopret an tatom eee ate cen Dn rat as sonmeus cance The enor Gelert cou OF Soy say assed th aman ter ms) ang meomes 2 as res consumpten, Savings, 2d Investment ‘F course, hrs more sceome degen ha come Gon eI RDme ASEAN 6 NaH Saw OR may ot be scanned mich ogess trad he ga ht a sal asec nih earn dept Q inst enracnsc se pesy sect ml ini evap? Yb nh 3 ti to vw tag wana ered cot fo cn at ‘cy ot icp sue atl hese In gil maa Ao come of your Mg een queton he presase ‘hen ee sone, in prep f9 uns (agate win hen) ch, for ample ce ane eneyme Inv appear be que hgh er hghighng tec that ot eveyone has acess good publ sven, outing and <0 e. Some of thor pom ae clay open tte. For nce ce eve the rl eae may ecg ents eet ps ie re ofan much ler han In soe lhe etn peptone cf deve couse. tle the above let pal ft Ince ce carts But Gebgush semis tt we sonoma crepe ram eae Ba ae Rok Economic growth From he acer the ase queen you al ne Aten! athe etd cuca tce gan sy are aot geal tan he recs mechan ot chi emo what des 8 cure tours enivg base gs? The eon ve epee ‘ost government mt mfr rato opto, an th enc hte te, Bi pt ese ea overs com owt cat fo may erent pat, ad ot of hem ae sale, etre fe any wo tue Ba ‘ven e ne rae fe peta rescues, 2 foe of exanoric GU Uae usual esha ve ee {ete or Forno ok at wt eae) eran ronan ed Re sere otomit tl mas eon gC I TNE AF domes product (COP) owe na SN 36 aS Nana prdact (0) ogre atonal inca (CA wrch en ied tom the OP Alaton. GP is td om ou aon] “eos whch repr anal cao names exert al iesnet for eat star fhe aceon. Ug es ta ts psi {o etmate te tl wc eamed in he courey an ae yea (CDF oF eta! meme eae By 2 cue ce: (GP er eu. ‘ae cea by austg GOP to cate epee Ba sented ce, ad cle pat Me Ra as sre ‘amet by rape tn cuts whe hove So caso bs sr oe saan Gt ny be 8 mere eprpie aot {Seeger ‘The nce agen 26 Berar saps muses pl’ came, he cup aac messes te vale gees and sere ed geet se nes ane expN As Mewes he epee en Ged and Snes. ery a bese agra sh lend Oe Some Ful 59m cUDut he eanary Memass, eames aod epee SEU aur or acne rot te sty presan te Bes peranage Ice m ea GOP sl GP alas HF ON] mominalaDP oak count tation ic wu mre make Goh ates aya mc ge an Cay rey am wey ing prods hgh aon, ‘Short-term versus long-term growth | aatncion note © bre ten St grote an loge em ors. Tae nro herr grt eS ‘chat nw wh he bases cycle. Ts can be sen Be oes £2 rpm GOP gronth mh US eee 1930, 44.2.4 US GDP (1950 to 2008) n bilo of 5 (at year 2000 pie)1s Go growth rats (percentage change on previa yen, 1530 to 2003) Sours: uot auto bandon ate fo US Dre of Commer en of enum deals ‘coring te mass of GOP aré growth shown Hr, goth I cr Gace as utd bene 20 aed} ar amr. ‘Cary Basan ong-rm veds, gront eseacncng 5% (ras Hr) Wul se be wasestainale. Ven poten: ae ang abst strate gone her ae oes eon fo macverotone cnc es te eye of Boom ant aE ‘7 exon boom les Nh gon rasan fen acompand by rag EEN, Re cen ond by perf ower (rth te ans reason (Dt) Sartre onthe ete tact able) ate teen out he cate th ner thr sang hgh paisa he ge ough anand wth recone et at he ere fom te en at ‘crvronmentats tp fru oon wen ey a the usb of eanorc poh le al nj mere x th ate Relationship between growth and development ae ‘ow take 2 moment te think about what GDP and GOP srowth tol us about a county level of cconomle and ‘cial evelopment Do hgh is of GOP scaly cern eh Moy lof elopmen? et rece. apg GOP tat = pera OP per capt. Counties es Chin In hve mck igh eves of GOP thay Sapte, He Zand or Blum, bat few woud ng but Oe ater a etre le devetpd thn te mer Q cos arth vara in Mot prt, tae pce aptin goth. Arg Ha ‘evn i deepening pas ‘cof, cts eel ht he mast develope cor a toee wth te highest GOP pr cnt, sgh, GO pr cna (owt ta he wile sory GOP pr capa i elite by cing GOP oy the poputon Rae nebg sont how ce ate “enue or pent. Goth GOP pe expt cou eam growth he comes rier Gos vce, wh noes of ore ups reniag ley uchage.t conces wth spending puters tae seeders the eh nd whch ee te ate ct pes or wecessay flo at nth npr cpa GOP ile te sen In pe ee ade scl a ‘connie desler Ine, ete we ese Whoa HRY or eM at M may cous eam Got sole ‘The plato tebe entrant and poet sa Mey etd ope, aoe heh peste ae Yr id. Some 2eope Non he nese ele f Gone ow came gous, SPs erat lr mew approaches W comic deleopmeRt Ba i ‘abu epee Det mere Rom ssnomi gon ah te 6 t BE CONT fe mor segura, Dale tte ES of ‘arent mde ow vt evry eke down f pore ups Sct ay ae wt aa Sg, Inequality os dewlopmentpatessona now lee Wat goth at HE np URS, Weir (WE ROE ANS sue er ove Indicton nt loge rm ea aguay 3 petty knoe aor etuinng Pom Quy ad aaly | eds poverty wth gow otis Pat Sa x wth Hh eral of at Big seve a eiing ove Pan mons te ware neu ke rons ee Falon 205) & rreond ent et ney ans eon resce appe uy 2 eae a a ites rane Me wales an Meni thse ges In 2 a eer hes on he ‘bc 1 ako Rrger spon itepestoe of he anil eee. Poe a tome ethan ae ho mem, ec evebpg emer wwe Se cpaty © pater a no ata fen ery wee Coney te reg of the tte ‘sonny been nth porary an neatly rman te ete tha dette Tee ao carvery set be remanns by wen eoname gow ma ees, the ning of es atthe pleyIplatons Th Masten eared by he ‘ton Stow cee (001.22. ‘Te totom ain date wie eee sunt the gueton of whee te port pepe (he Bot en) af be une te pore conten (ee Cll 207 or est roing mle Ince ces (ee Sumner 201), The ply ‘mleaons athe pols aking pve depen gray on whch pes 6 alan NS deat Sou, fx exooon eang poverty mar ins popu ato ees peal S210 Aa ut Biehere to) wee es of ‘he wort pcr now Ie, bat wes le in he coun ty Hein a mich Nghe a a tI one? ‘So wold qe Bt bp mil ome conte sab he egy eno apr eae editors ore out be onenets Ineas on cures wre goer afew zou hor (ipo. Cer age tat ie mage! he gh a he may ote wer sor pce nd purchasing power party ‘ao tetra pole tn OP 2 mea of cecomamt ars tan on compas pr capt GOP ace cures Ths pi ror tenis ane US dlr ne Unt Sar Eu for sampl sus not boy te sone anon goss ant mare 9 Tudo say afc ar ea or many godt eries cw dar wl cue spicy re a2 eect Wilma dtcoped oe o ovecome they ecnarns cen we purchasing power guy (FF) dlrs wen alg crm ‘county contr of DP These ae dla Sut re hat ait er the ees I pcan poner ben tense Human development index ‘he nesoeses tet inthe eo GOP a «mae of pen hae lf he aon of terezie. The ot no of ee te mumanceconent ns I) pice ona pur Ase by The Utes None Derm Popa (Une) ns Hanan Deemer Rept The HI a ogo ne ht ats coun mzadng Ent ove perma 1 pereaieGDP (ing PP cers) 7s one eee bate at elo fndanen toms Ine an parts soc, noe pubons »numaer cf ret huranceeogrant atom may of Me fe compote of oer wale eee The ma + human ceveopment ne (100 {nega ashe human seelpment nce GHD) 1 gener nant nde (2) + tclmersonel pret Idx CD) { gmceremporernent east (SEH) ‘ayaa oe ow ase re ats shown 222 41.23 cakeaating man development inakeators Human Development inden (HH mano Lng and ea ie dct stand fthng ae er a —— ne lan eta eo 2 ae q Inequality-adjusted Human Development index (HDI) Genderinequalty ommoa —_Peat a ‘aia mat i tent ocrons aural Miacet “Faith alt tere eaecars fee leo ON mahe Coe seni n a = Povertylndex (MPI) ‘nocstoet Warton chitmoniy Warns chs =Souce; une (211) p 167