Economic Development 2
Economic Development 2 : This is not the same as economic growth, in that economic growth is basically an increase in the per capita production of goods and services in a country. It may be seen as a function of economic growth, though being more wide-ranging and bringing a qualitative dimension to the concept. An eminent Caribbean Economist, the late William G. Demas defined Economic Development as: "Economic growth which is generated from within a country and resulting in economic diversification which creates more interdependence or linkages between the different industries and activities within the country; as well as producing: (a) A satisfactory level of employment; (b) A fairly equal distribution of income; and (c) The greatest possible participation by the people of the country in the economy". When viewed from this perspective, it can be seen as sustained economic growth, not only of a quantitative nature, but of a qualitative nature as well
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