ECO 346 Exam 1 Review - I. Measures of Development a....

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Unformatted text preview: I. Measures of Development a. TraditionalGNI, Income per capita b. New Viewbroadly defined measures, interested in well-being i. Amartya Senargued capability to function is most important ii. beingsbeing able to live long, being well nourished, being health, being literate, being well clothed, being mobile, being a part of a community, being happy II. Three Core Values of Development a. Sustenancemeet basic needs b. Self-esteemneeds are met, people need to feel they are important c. Freedom from servitudecan make choices III. Three Objectives of Development a. Increase availability of life sustaining goods b. Raise levels of living c. Expand range of choices IV. US advantages in beginning a. Natural resources, talent/education, stable/honest govt, low population per resources, climate, immigrant labor, absence of foreign influence V. Common Characteristics of Less Developed Country (LDC) a. Poverty and inequality b. Unemployment or lack of productivity c. Lack of infrastructure/unstable govt d. Lack of resources e. Poor climate f. Lack of capital- less developed financial institutions g. Lack of education h. Health issues (disease) i. Greater social fractionalization (religious fighting) j. Higher population growth rates k. Larger rural populations VI. Income rankings of countries a. Lower Income Country (LIC)less than $976 per year...
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This note was uploaded on 09/27/2011 for the course ECO 346 taught by Professor Gallaway during the Fall '11 term at Missouri State University-Springfield.

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ECO 346 Exam 1 Review - I. Measures of Development a....

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