Social Framework of Economic Development

These flashcards cover key concepts related to the social framework of economic development as outlined in the lecture.

Development

A process involving multidimensional and multifaceted improvements in social, economic, political, and cultural aspects.

Modernisation Theory

A theory suggesting that societies progress from traditional to modern stages through industrialization and economic growth.

Dependency Theory

A theory that argues development is constrained by the relationship between developed and developing nations, where the former exploit the latter.

Sustainable Development Goals (SDGs)

Global goals set by the United Nations to achieve a better and more sustainable future for all.

Quantitative Approach

An approach to measuring development that focuses on numerical data, such as GDP, GNP, or Per Capita Income.

Qualitative Approach

An approach to measuring development that emphasizes non-numeric factors, including social well-being and quality of life.

Agricultural Commercialisation

The process of transforming agricultural production from subsistence to a focus on market-oriented production.

Top-down vs. Bottom-up Approaches

Differentiates between hierarchical management (top-down) and grassroots participation (bottom-up) in development initiatives.

Human Development Index (HDI)

A composite statistic of life expectancy, education, and per capita income indicators used to rank countries into four tiers of human development.

Institutional Arrangements

The formal and informal rules and organizations that govern behavior and interactions within a society or organization.

Cultural Sensitivity in Development

The recognition and respect for the diverse cultures, values, and traditions in the development process.

Participatory Development

An approach that involves stakeholders, especially marginalized groups, in decision-making processes for development.

Economic Growth

An increase in the production of goods and services in an economy over a specific period, typically measured by GDP.

Informal Economy

Economic activities that occur outside of formal labor markets, lacking regulation and protection.

Equity in Development

The principle of fairness in the distribution of benefits and resources, ensuring that all individuals have access to opportunities.

Malthusian Perspective

The view that population growth will outpace agricultural production, leading to shortages and societal collapse.

Social Infrastructure

The structures and organizations that support social well-being, including healthcare, education, and community services.