- Objective of Economic Development

Economic development is a process aiming at the promotion of the real national income of a
country. It refers to the better utilization and fl improvement of the resources in production
process in different sectors of underdeveloped countries. Under – developed countries choose
different objectives and initiate development for realizing the objectives. The following are some
important and main objectives of economic development.
1. Increase in the level of national income: The main objective of economic development is the
increase in the level of national income. The level of national income could be increased by
increasing the quantity and quality of various goods and services. Besides economic
development is initiated for promoting the level of real national income of the country.

2. Increase in the investment: Investment plays a significant role in the economic development
of a country. So investment must be made in all important sectors. Investment in unimportant
consumption sectors should be discouraged. More and more productive activities are carried on
only when investment is made on large scale.

3. Provision of employment : Economic development aims at the elimination of unemployment

problem. Qualified, talented, efficient and hard working persons must be provided employment
in different spheres of productive activity. But it is very difficult for the government to provide
jobs for all the unemployed persons. So, various means like self-employment schemes, rural
electrification, roads and communications, transport etc have to be adopted for overcoming the
dangers of unemployment problem in underdeveloped countries.
4. Removal of Poverty: It is one of the important Objectives Of economic development.
Economic development also aims at the removal of poverty and provision of social justice for all.
Power could be removed when the poorest persons in underdeveloped countries are provided
with minimum needs like food, shelter, clothing, medicine etc. Programmes like adoption of the
progressive taxation, decentralization of economic power, nationalization of key industries,
special help to weaker sections etc have to be implemented with sincerity and honesty.

5. Self reliance: Every country wants to achieve self-reliance and self-sufficiency in all matters.
This objective could be achieved with herculean efforts of the people, government and social
institutions. As economic development takes place, production in all sectors will increase.
Exports will increase and imports will be minimized. Thus, there are several objectives of
economic development. These Objectives Of Economic Development would be realized only
with the adoption of a long term perspective plan

- Objective of Ph Development (3)

The Malasakit pillar is about enhancing the social fabric. The strategies aim to build the
foundations for a high-trust society by ensuring a clean, efficient, and people-centered
governance; guaranteeing swift and fair administration of justice; and increasing awareness of
the different cultures and values across Philippine society.
The Pagbabago pillar is about effecting inequality-reducing transformation. It consists of
strategies to expand economic opportunities, accelerate human capital development, reduce
vulnerability, and build safe and secure communities.
The Patuloy na Pag-unlad pillar is about increasing potential growth. It consists of
strategies to enhance the factors necessary to accelerate and sustain growth and development
through 2040. It is about promoting science, technology, and innovation. It also covers strategies
to reap the demographic dividend.
- Prime minister virata
Cesar Virata, a business professor, college dean, and management specialist, rose to
prominence under Ferdinand Marcos' administration and martial law. In the legislative
government, he became to be Prime Minister. The oil crisis of the 1970s, which was exacerbated
by currency and interest rate fluctuations, put his public service career to the test. Despite
difficult circumstances, he assisted in the implementation of important investment, financial,
banking, tax, and budgetary reforms until the People Power revolution in 1986.
-Achievement of total development of PH
In the Southeast Asia Pacific region, the Philippines is among the most dynamic
economies. Between 2010 to 2019, average yearly growth grew to 6.4 percent, up from 4.5
percent between 2000 and 2009. The Philippines' economic vitality is anchored on strong
consumer demand backed by a lively labor market and significant remittances, thanks to
increased urbanization, a growing middle class, and a huge and young population. Business
activity is soaring, with strong gains in the services sector, which includes BPO, property
investment, tourism, and the banking and insurance industries.

-Stages of economic growth

Traditional Society: This stage is characterized by a subsistent, agricultural-based
economy with intensive labor and low levels of trading, and a population that does not have a
scientific perspective on the world and technology.
Preconditions to Take-off: Here, a society begins to develop manufacturing and a more
national/international—as opposed to regional—outlook.
Take-off: Rostow describes this stage as a short period of intensive growth, in which
industrialization begins to occur, and workers and institutions become concentrated around a new
industry.
Drive to Maturity: This stage takes place over a long period of time, as standards of
living rise, the use of technology increases, and the national economy grows and diversifies.
 Age of High Mass Consumption: At the time of writing, Rostow believed that Western
countries, most notably the United States, occupied this last "developed" stage. Here, a country's
economy flourishes in a capitalist system, characterized by mass production and consumerism

- Two different worlds (the unfair and the rich)

Health: A child born in one of the countries with the worst health is 60-times more likely
to die than a child born in a country with the best health. In several African countries more than
one out of ten children born today will die before they are five years old. In the healthiest
countries of the world – in Europe and East Asia – only 1 in 250 children will die before he or
she is 5 years old.
Here is the world map showing child mortality rates around the world.
Education: In the countries where people have the best access to education – in Europe
and North America – children of school entrance age today can expect 15 to 20 years of formal
education. In Australia, which is an outlier, school life expectancy is 22.9 years. Children
entering school at the same time in countries with the poorest access to education can only
expect 5 years. And additionally, children tend to learn much less in schools in poorer countries,
as we explained before.
Here is the world map of expected years of schooling.
Income: If you look at average incomes and compare the richest country – Qatar with a
GDP per capita of almost $117,000 – to the poorest country in the world – the Central African
Republic at $661 – then you find a 177-fold difference. This is taking into account price
differences between countries and therefore expressed in international-$ (here is an explanation).
Qatar and other very resource-rich economies might be considered outliers here, suggesting that
it is more appropriate to compare countries that are very rich without relying mostly on exports
of natural resources. The US has a GDP per capita of int.-$54,225 and Switzerland of 57,410
international-$. This means the Swiss can spend in 1 month what people in the Central African
Republic can spend in 7 years.
Here is the world map of GDP per capita differences.
The inequality between different places in the world is much larger than the difference
you can make on your own. When you are born in a poor place where every tenth child dies you
will not be able to get the odds of your baby dying down to the average level of countries with
the best child health. In a place where the average child can only expect 5 years of education it
will be immensely harder for a child to obtain the level of education even the average child
gets in the best-off places
 Your living conditions are much more determined by what is outside your control – the place and
time that you are born into – than by your own effort, dedication, and the choices you have made
in life.

- Discrimination of white and black

1. During the 2015–2016 school year, Black students represented only 15% of total US student
enrollment, but they made up 35% of students suspended once, 44% of students suspended more
than once, and 36% of students expelled. The US Department of Education concluded that this
disparity is “not explained by more frequent or more serious misbehavior by students of color.”
2. In New York City, 88% of police stops in 2018 involved Black and Latinx people, while 10%
involved white people. (Of those stops, 70% were completely innocent.)
3. In one US survey, 15.8% of students reported experiencing race-based bullying or harassment.
Research has found significant associations between racial bullying and negative mental and
physical health in students.
4. From 2013 to 2017, white patients in the US received better quality health care than about 34%
of Hispanic patients, 40% of Black patients, and 40% of Native American patients.
5. Black women are 3 to 4 times more likely to experience a pregnancy-related death than white
women, even at similar levels of income and education.
6. Black Americans are more likely than white Americans to be arrested. Once arrested, they are
more likely to be convicted, and once convicted, they are more likely to experience lengthy
prison sentences.
7. Black Americans and white Americans use drugs at similar rates, but Black Americans are 6
times more likely to be arrested for it.
8. On average, Black men in the US receive sentences that are 19.1% longer than those of white
men convicted for the same crimes.
9. In the US, Black individuals are twice as likely to be unemployed than white individuals. Once
employed, Black individuals earn nearly 25% less than their white counterparts.
10. One US study found that job resumes with traditionally white-sounding names received 50%
more callbacks than those with traditionally Black names.
11. In the US, Black workers are less likely than white workers to be employed in a job that is
consistent with their level of education