![]() ![]() There are several different measures of economic development, such as the Human development index (HDI) Measuring economic development is not as precise as measuring GDP because it depends on what factors are included in the measure. This may be important for regions that may be cut off from the main areas of economic growth. Transport / Infrastructure Economic development would require improvements in infrastructure and transport. If higher growth involves cutting down forests – this could have adverse environmental consequences in long-term. For example, higher output could cause more pollution. ![]() Economic growth can actually harm the environment and people’s living standards. There is often a weak correlation between GDP and literacy rates.Įnvironmental standards. However, there is no guarantee that the proceeds of growth will be used to improve education standards. Economic growth may enable more money to be spent on education. A key issue is whether the benefits of economic growth are equitably distributed amongst different groups of society.Įducation standards. Economic growth could bypass the poorest sections of society because they don’t have the ability to take part. However, economic growth doesn’t necessarily improve everyone’s living standards. Do people have sufficient resources to maintain a healthy diet and basics of life such as shelter? Economic growth may be essential to enable higher incomes for people to be able to buy more food. number of doctors per 1000 populationĪbsolute Poverty.
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