About 40-60 words. Differentiate between growth and development?
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What is the difference between growth and development?
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Growth is never-ending but development is an end-goal. When you are still under-developed (or developing in the case of a country), you should go all out to achieve it. Once you reach developed status or advanced economy, there is “no higher goal” to achieve. But for growth, any politician will tell you that, you need to stabilise it and maintain a positive growth over the years if you want to remain popular.
Development means having all-rounded growth in all areas like Education, Infrastructure, Manufacturing and Services industry and also a functioning governance endowed with natural resources. On the ranking of UN’s Human development Index (HDI), there is a formula to calculate the developed-ness of the developed countries. Some developing countries with high growth rates can go quite high up in the list. They remain developing as they did not fulfil all aspects of the development definition.
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22 ANSWERS
Growth is never-ending but development is an end-goal. When you are still under-developed (or developing in the case of a country), you should go all out to achieve it. Once you reach developed status or advanced economy, there is “no higher goal” to achieve. But for growth, any politician will tell you that, you need to stabilise it and maintain a positive growth over the years if you want to remain popular.
Development means having all-rounded growth in all areas like Education, Infrastructure, Manufacturing and Services industry and also a functioning governance endowed with natural resources. On the ranking of UN’s Human development Index (HDI), there is a formula to calculate the developed-ness of the developed countries. Some developing countries with high growth rates can go quite high up in the list. They remain developing as they did not fulfil all aspects of the development definition.
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Growth : The process of growing and developing
Development : The process of becoming bigger, stronger and better, etc
Development : The process of becoming bigger, stronger and better, etc
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