Chapter 1 - Summary - Economic Development - Introducing...

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Introducing Economic Development: A Global Perspective Michael P. Todaro and Stephen C. Smith, Economic Development, 11th Edition, Ch 1. 1.1 How The Other Half Live: Every day, people around the world living with the condition that completely different from one another. Half the world's population live all-sufficient, while others are deprived of life on planet Earth with a population of about 7 billion people.40% of the population live on Earth with a per capita income of under $ 2 per day, one of the characteristics of absolute poverty , a situation in which a person can not meet the minimum standard of living. Comparison of the different parts of the world below can explain the situation of unequal development. In North America, we can see that most of the families who live there have a nuclear family consisting of 4 people. They have a decent livelihood with an annual income of about $ 50,000. In addition, a source of entertainment there are relatively abundant. This is one of the characteristics of families living in a rich country on Earth. In the South Asian region, we can see that the members of the nuclear family there are 8 people or more. They live in an atmosphere that is hard with an annual income of about $ 250 to $ 300. The only consolation is simply a religious spiritual activities. In Latin America, the development runs imbalanced. Many elite houses standing in the city, with the state all-sufficient.While in other areas, relatively opposite on the beach, a favela (slum) that looks rickety, seedy, and squashed. In the eastern region of Africa, poverty is spread evenly. Income per capita is very little and completely lack. Family there to produce a variety of needs to be used by itself (also called subsistence economy ). Construction of a new discourse, namely the building of access roads to the outside world. If you see the above facts, so we asked what should be done to raise the degree of development in order to become better. We should be able to trigger progress in developing countries . Only, p roses progress experienced by developing countries (developing countries) can not realistically be analyzed without considering the role of developed countries that assist or inhibit, directly or indirectly, the advancement process.

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