different between human development and economic development
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Human development is the process in which an individual’s freedom, opportunities, and wellbeing are continuously improved. Economist Mahbub ul Haq developed the concept of human development in the 1970s on the premise that gross domestic product or GDP (largely a measure of economic growth) failed to give justice to the measurement of human development.
Economic development refers to the improvement of the overall economic wealth of a country. Economic development includes the development of human capital, improving standards of living, development of buildings and infrastructure, economic growth (as measured by GDP), increase in international trade, environmental health, improving health, public safety, social justice, life expectancy, literacy, etc.
Economic development refers to the improvement of the overall economic wealth of a country. Economic development includes the development of human capital, improving standards of living, development of buildings and infrastructure, economic growth (as measured by GDP), increase in international trade, environmental health, improving health, public safety, social justice, life expectancy, literacy, etc.
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HUMAN DEVELOPMENT
1. It is a boarder aspect of development as it includes monitary aspect.
2. It is the places of both qualitative and quantitative growth human development is end on final goals.
ECONOMIC DEVELOPMENT
1.It is a narrow concept it is include only monitary aspect.
2. It includes only quantitative growth. It's means to achieve human development.
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