Economic Development

Assignment 2: Development

1. Define Development.

Development is a process that results in growth, advancement, positive change, or the integration
of economic, social, demographic, and economic components. The goal of development is to raise the
population's standard of living and quality of life, as well as to create or expand local earnings and job
possibilities while protecting the environment's resources. Development is observable and beneficial,
albeit not always immediately, and contains an aspect of improvement in quality as well as the
establishment of circumstances for that change to continue.

2. Discuss 1. Amatrya Sen’s “Capability” Approach. Include some important “Beings” and “Doings” in
capability to function.

Amartya Sen's capability approach is a paradigm for evaluating individual well-

being, and as such, it may serve as the theoretical foundation for inequality, poverty, and
policy considerations. The capacity method measures people's well-being by means of
their functionings and capabilities, which are defined as an individual's existing and
potential activities and states of being, respectively. The fundamental notions are
functionings and capabilities. Sen describes functioning as a person's success, or what he
or she is able to do or be. Functionings include a person's actions and stages of being,
such as excellent health, enough shelter, freedom of movement, and education. Capability
is a generated concept that represents the numerous functions he or she might possibly
perform, as well as the individual's flexibility to select between alternative ways of life.

"Capability to function" is what determines whether a person is impoverished or

not. People value their capacity to perform particular activities and accomplish specific
sorts of existence (such as being well-nourished, free of preventable illness, able to move
about freely, and so on). These "doings" and "beings" of a person are referred to as
"functionings" in general.

Some Important “Beings” and “Doings” in Capability to Function:

 Being able to live long

 Being well-nourished
 Being healthy
 Being literate
 Being well-clothed
 Being mobile
 Being able to take part in the life of the community
 Being happy – as a state of being - may be valued as a functioning
 2. 3 Core Values of Development

1. Sustenance: The Ability to Meet Basic Needs

Everyone has essential necessities without which existence would be

difficult. Food, housing, health, and protection are examples of fundamental
human needs.
2. Self-Esteem: To Be a Person
A sense of value and self-respect, as opposed to being viewed as a tool
by others. Everyone and every society seek some type of basic self-esteem,
whether they term it authenticity, identity, respect, self-worth, honor, or
acknowledgment.
3. Freedom from Servitude: To Be Able to Choose
The sensation of liberation from unpleasant material conditions of
existence as well as social enslavement to nature, other people, unhappiness,
repressive structures, and dogmatic beliefs, particularly the assumption that
poverty is destiny. Freedom entails a broader range of options for societies and
their individuals, as well as the reduction of external limitations in achieving of
some societal aim known as progress. The nature and shape of this self-esteem
can vary from one civilization to the next and from one culture to the next.

3. Two (2) Millennium Development Goals

1. Eradicate extreme poverty and hunger

This aim includes three targets: cut in half the number of people living on
less than a dollar a day; establish full, productive, and decent work for everyone,
including women and young people; and decrease in half the number of people
who suffer from hunger.

2. Combat HIV/AIDS, malaria, and other diseases

This aim has three objectives: cease and commence to reverse the spread
of HIV/AIDS, achieve universal access to HIV/AIDS treatment for all those who
require it by 2010, and stop and start to reverse the prevalence of malaria and
other serious illnesses.

3. Why is economics central to an understanding of the problems of development?

Economics is crucial to understanding development difficulties as it is the study concerned with

the features of social behavior and institutions involved in the utilization of finite resources to produce
and distribute products and services in order to satisfy human demands. It might also be because
economics is primarily concerned with the efficient, lowest-cost use of finite productive resources, as well
as the optimal expansion of these resources through time in order to generate a wider variety of goods and
services, which is very crucial for the development of a nation.

4. Is the concept of the developing world a useful one? Why or why not?

I feel that the developing world idea would be beneficial since it would provide more benefits and
a higher level of living. In a developing world, we continually seek for more while feeling content with
each fulfilled objective. Working in a developing world force us to figure out how to handle difficult
situations. It would help us comprehend the new culture, have a wide experience of all elements of life,
deal with different obstacles, and acquire a new lesson from every bit of action.

5. It has been said that ending extreme poverty and achieving genuine development is possible but not
inevitable and that this gives the study of economic development its moral and intellectual urgency. What
is meant by this? Comment and evaluate.

Poverty has numerous facets, but it is primarily responsible for unemployment, social isolation,
and the increased susceptibility of particular populations to catastrophes, illnesses, and other phenomena
that hinder them from becoming productive. Ending poverty is not easy because we must first plan how
economic growth will be promoted in a specific country. On the other hand, when planning, we must also
consider the moral and intellectual urgency because if we execute intellectually without considering the
moral aspect, we can expect chaos in society because it is out of balance. To accomplish true progress, we
must consider industrialization, futility limit, and ecological catastrophe limit.