Defining Development Topic 2

Flashcards providing vocabulary definitions from the lecture 'Defining Development Topic 2', covering concepts such as different views of development, poverty, happiness, and multidimensional goals.

Development Economics

A field that understands the challenges of defining poverty, discusses how economists define development, and explores multidimensional development goals.

Development (Merriam-Webster)

The act or process of growing or causing something to grow or become larger or more advanced.

Development (Common Definition)

A country getting wealthier or less poor, though this depends on more than just individuals' incomes.

Development (Todaro and Smith, 2015)

The process of improving the quality of all human lives and capabilities by raising people’s levels of living, self-esteem, and freedom.

Traditional View of Development

Focused almost exclusively on per capita income and changes in total value-added (GNP/GDP), emphasizing macro-level variables like capital stock, monetary policy, fiscal policy, and trade.

Modern View of Development

Broadens the focus beyond per capita income to include individual-level variables such as unemployment, inequality, the number of poor households, and human capital, often referred to as 'multi-dimensional'.

Multi-dimensional Development

An approach that looks beyond per capita income to include a variety of measures reflecting human well-being, developed in response to countries growing economically without reducing poverty or inequality at the individual level.

Happiness Index

A uni-dimensional index that measures overall subjective well-being, championing the idea that various factors like income, health, and education contribute to self-reported happiness.

Millennium Development Goals (MDGs)

A group of eight global development goals adopted by 189 UN members in 2000, set in prioritized areas with measurable criteria and target deadlines, focusing on issues like poverty eradication, education, gender equality, health, and environmental sustainability.

Sustainable Development Goals (SDGs)

A set of 17 goals adopted in 2016 to be met by 2030, replacing the MDGs, which are significantly more complex and detailed in their targets and outcomes.

Sen's Capability Approach

Developed by Amartya Sen, this approach focuses on 'Capabilities' – a person's actual ability to do valuable acts or reach valuable states of being – as central to freedom and well-being, moving beyond just access to resources.

Access (Sen's Capability Approach)

The ability to access resources, such as having a bike.

Functioning (Sen's Capability Approach)

The ability to make use of resources, which is related to a combination of resources, social environment, and political environment (e.g., being able to ride a bike after having one).

Capability (Sen's Capability Approach)

The ability to choose over multiple functions, representing a person's freedom to achieve different combinations of functionings.