Summary
Summary - Issues in global economics (UA_1302TEWSBX_2425)
- Course
- Institution
Summary of 133 pages for the course Issues in global economics at UA
[Show more]
Seller
Follow
brittsteenput
Content preview
Samenvatting issues in global economics 2024,
, 1. Introduction: What is Development?
1.1 WHAT IS DEVELOPMENT?
▪ Development refers to “the ways in which economies progress through their
societies to improve well-being”
▪ How do we define well-being? How do we measure progress?
• More stuff?
• Longer lives?
• Better health?
• Smarter people?
• Greater happiness?
▪ The United Nations (UN) defines human development as the enlarging of human
capabilities and choices (cf. Amartya Sen's “capabilities approach”)
Human Development Index
▪ In a yearly publication the UN ranks nations based on the human development
index, which measures what countries achieve in terms of health (life expectancy),
knowledge (educational attainment) and standard of living (gross national income)
20th century approach: Development as economic growth
, ▪ For much of the 20th century, development was identified with economic growth
▪ Gross national product (GNP) or per capita income were seen as measures of
economic development
▪ Broadly speaking, in the second half of the 20th century two types of policies were
pursued to encourage development:
• Government approach: policies focused on creating jobs and providing social
services tomeet basic needs
• Market approach: minimizing government influences, deregulation, private
sector solutions for public services
▪ Does this kind of development work for everyone? Think of poverty,
inequality, environmental issues, …
21st century approach: Developing towards sustainability
▪ From the 1970s onwards there was increased attention for the negative effects of
economic growth on social and environmental aspects
▪ This led to the notion of sustainable development
▪ “Sustainable development is development that meets the needs of the
present without compromising the ability of future generations to
meet their own needs.” (Brundtland Commission, Our Common Future,
1987)
Millennium and Sustainable Development Goals
▪ “Thus the normative side of sustainable development envisions four
basic objectives of a good society: economic prosperity; social inclusion and
cohesion; environmental sustainability; and good governance by major social actors,
including governments and business.” (Jeffrey Sachs, The Age of Sustainable Society,
2015, p. 4)
▪ The UN adopted the Millennium Development Goals (MDGs) (1990- 2015) and the
Sustainable Development Goals (2015-2030)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller brittsteenput. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.25. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now