The Meaning and Measurement of
Economic growth is an increase in a country's per capita output.
Economic development is economic growth leading to an improvement in the economic welfare
of the poorest segment of the population or ch
Characteristics and Institutions of
While LDCs are diverse, they have some common characteristics that especially apply to low
Low income economies tend to have a high percentage of production and labor force in
Poverty, Malnutrition, and
Poverty is multidimensional, referring not only to low income but also to hunger, illiteracy, poor
health, inadequate infrastructure, and lack of power and voice
Absolute poverty is below the income that secu
Rural Poverty and
Rural inequality is probably less than urban inequality in LDCs as a whole, especially in Afro-Asia.
Nevertheless rural populations have a higher percentage in poverty than urban populations, because of
Population and Development
Population growth in the second half of the twentieth century, especially among LDCs, is
unprecedented in human experience.
The developing world has a current population growth rate of 1.6 percent yearly. More than one
The textbook is organized into six parts.
The first five chapters focus on principles and concepts of economic development. Chapters 6-7
examine income distribution, including a discussion of the distribution between urban and rural areas
Economic Development in
Capitalism rose in the West from the fifteenth to eighteenth centuries with the decline of
feudalism, the breakdown of church authority, strong nation states supporting free trade, a liberal
Employment, Migration, and Urbanization
Production depends on the flow of natural resources, capital, labor, entrepreneurship, and
technology per unit of time.
The openly unemployed, those without a job who are actively looking for one, are usually urba