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Development - Development The East Asian Model Development...

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Development: The East Asian Model Development: in general terms: Refers to economic, social, and political progress within a country. In addition to economic growth, development refers to the transition from agriculture to manufacturing to service oriented economies. Development indicators involve economic indicators, population measures, democracy, education, political stability, etc. In the most general of terms, development refers to material, institutional, and human progress. It refers to the growth of material resources, advances in specialization, development of institutions, and improvements in human and social welfare. One controversy regarding development deals with how one measures it. From a strictly economic standpoint, many argue that the most reliable measure of development is GDP and GDP per capita. However, others argue that measures of inequality must be taken into account as well – the most commonly used is the GINI coefficient which measures
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