Transcription of Economic Development: Overview
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CHAPTER2 Economic development : OverviewBy the problem of Economic development I mean simplythe problem of accounting for the observed pattern, acrosscountries and across time, in levels and rates of growth ofper capita income. This may seem too narrow a definition,and perhaps it is, but thinking about income patterns willnecessarily involve us in thinking about many other aspectsof societies too, so I would suggest that we withholdjudgement on the scope of this definition until we have aclearer idea of where it leads us. R. E. Lucas [1988][W]e should never lose sight of the ultimate purpose ofthe exercise, to treat men and women as ends, to improvethe human condition, to enlarge people s choices.
May 15, 1993 · estimates for all countries. Using the yardstick of gross national income, the world produced approximately $59.2 trillion of it in 2009. A bit under $9.3 trillion of this came from all low-income and lower middle-income developing countries5 Simply put, close to 70% of the world’s population haveaccesstounder16%ofworldincome. Norway,withper ...
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