what is a difference between economic development and economic growth
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Economic growth means an increase in real national income / national output. Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care. ... The proceeds of economic growth could be wasted or retained by a small wealthy elite.
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Economic growth means an increase in real national income / national output. Economic development means an improvement in the quality of life and living standards, e.g. measures of literacy, life-expectancy and health care. ... The proceeds of economic growth could be wasted or retained by a small wealthy elite
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