F583 - The global economy - Development and Sustainability

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Poverty
when income is below the level that would allow someone to enjoy some agreed minimum standard of living. The World Bank defines 'extreme poverty' as living on less that US$1 per day and 'moderate poverty' as living on less than US$2 per day
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Economic development
process of improving people's economic well-being and quality of life
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High human development
HDI is 0.8 and above
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Medium human development
HDI is between 0.5 and 0.8
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Low human development
HDI is less than 0.5
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Human Development Index (HDI)
a measure recognising limitations of GDP per capita as a measure, combines outcomes that might be valued in development process
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Index of Sustainable Economic Welfare (ISEW)
index by Herman E. Daly and John B. Cobb 1989 - adds to national expenditure things that raise quality of life
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Card 2

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process of improving people's economic well-being and quality of life

Back

Economic development

Card 3

Front

HDI is 0.8 and above

Back

Preview of the back of card 3

Card 4

Front

HDI is between 0.5 and 0.8

Back

Preview of the back of card 4

Card 5

Front

HDI is less than 0.5

Back

Preview of the back of card 5
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