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The New Economic View Of Development
In strictly economic terms, economic development represent a
situation whereby the capacity of an economy changes from long term
static situation to generate and sustain an annual increase in
gross national product (GNP) @ 5% to 7% and even more. economic
development was associated with rise in per capita GNP which would
occur if growth of GNP is more than growth of population.
Thus during 1050 and i1960 economic development was evaluated in
terms of planned alteration of structure of production and
employment so that the share of agriculture sector in total out put
could decrease and that of industry and service sector could
increase. therefore, the development strategies stress upon rapid
industrialization at the expense of agri culture and rural
development. Finally, these traditional measures of economic
development were supplemented by non economic social economic
indicators like gain in literacy, schooling, health conditions and
services and provision of water supply and housing etc.
But development experience of less developing countries like
Pakistan was not encouraging as they realized their growth targets
but the levels of living for masses for the most part remained
unchanged. After 1970s the economist and policy makers are defining
economic development in term of elimination of poverty, inequality
and unemployment with in the context of a growing economy.
according to this new approach economic development will be
possible if poverty, inequality and unemployment decrease. If one,
two or all of these central problems have been growing then it
would to strange to call the result `development` even per capita
income doubled.
Thus as World Bank asserts "the challenge of development is to
improve the quality of life especially in the poorest countries. a
better quality of life generally encompasses better education,
higher standers of health and nutrition, less poverty, a cleaner
environment, more equality of opportunities, greater individual
freedom and choices and a richer cultural life."
Therefore, development must be conceived of as a multi-dimensional
process which could involve major changes in social structures,
popular attitudes and national institutions as well as the
acceleration of economic growth , the reduction in inequality and
eradication of poverty. development, in its essence, must represent
the whole gamut of change whereby unsatisfactory life is replaced
by a materially and spiritually better life.
Therefore, for the sake of good socio-economic life three core
values of development life sustenance, self-esteem and freedom from
servitude should be satisfies. Thus regarding a better life not
only the availability of basic needs like food, shelter, health and
protection be made sure , but their distribution should also be
widen. To improve the standards of living in addition to higher
incomes, more jobs, better education and greater attention to
cultural and humanistic values be given. They will not only
increase material values, but they will also generate individual
and national self-esteem. The economic and social range available
to the people and nations should expand. They should be free from
miseries, illiteracy, servitude, dependence and narrow mindedness
etc not only in relation to other people but also to other nations.
Fida Karim
Karachi.
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