Measures of development

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  • Created on: 23-03-12 10:07
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Measures of development
Development
GDP is not an adequate measure of welfare/happiness
Other factors that contribute to happiness which are not measured in GDP
Economic development freedom/lack of freedom
Purchasing power parity indicator of volumes of goods/services an average citizen can
consume
% of adult males in agriculture tends to fall when GDP rises as this labour can be
replaced with capital
Education important aspect of freedom , if taken away can restrict people from doing
things e.g. can't get a job without the skills needed
Access to clean water allows people to live a healthier life
Levels of energy consumption can mean under developed if low BUT high is bad
because causes pollution harming future generations
Access to mobile phones freedom of communication
Human development index
Different statistics weighted
Longevity life expectancy
Education attainment
Stand of living measured by real GDP

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