Understanding Development: Traditional vs New Economic View

Rapid industrialization, often at the expense of agriculture and rural development.

The experience of the 1950s and 1960s, when economic growth did not improve the living standards of the masses.

Reduction or elimination of poverty, inequality, and unemployment within the context of a growing economy.

<p>High rates of growth of per capita income, employment, equality, and the real incomes of the bottom 40% of the populations.</p> Signup and view all the answers

<p>the traditional economic measures and the new economic view of development</p> Signup and view all the answers

<p>GNP growth rate turning negative and governments cutting back on social and economic programs due to mounting foreign-debt problems.</p> Signup and view all the answers

<p>the capacity of a national economy to generate and sustain an annual increase in its gross national product (GNP)</p> Signup and view all the answers

<p>growth of income per capita or per capita GNP</p> Signup and view all the answers

<p>levels and rates of growth of 'real' per capita GNP</p> Signup and view all the answers

<p>the ability of a nation to expand its output at a rate faster than the growth rate of its population</p> Signup and view all the answers