"Development is only concerned with the economic growth of a Essay

"Development is only concerned with the economic growth of a country" discuss - Essay Example Another aspect of development concerns the policies and programs to deliver services to members of a society. It may also be measured through business strategies for a given economy such as offering finance and expansion of the markets for produced goods. The primary objective of economic development is to ensure the improvement of society members’ well-being through strategies that involve job creation, improvement of quality of life, and improve government revenue. In most developed economies, several of the aforementioned factors exist in major sectors (International Economic Development Council 3). Economic development and growth vary. Usually, they are measured based on the effects that they create on the population (La 1). For most instances, economic growth measures a generalized increase in the levels of national income and Gross Domestic Product. The method of measurement does not cater for the quality of life of the population. Such a statement means economic growth does not measure the quality of life of the society members. It is possible to realize economic growth without economic development. The rationale for such an argument is that the latter aspect of the economy weighs human capacity development. The main human factors for this case sum to both the quality of life and the standards of living. An economy can grow without catering for aspects such as reduced illiteracy, poverty elimination, creation of sufficient goods and services among others. It would therefore, imply that the economy exploits the citizens by unfair means such as long hours of working with low payments. Sustainable development gives economic development a task of improving the qualities of lives of citizens. The approach of sustainable economic development targets an increased production of goods and services to the growing population. There was, therefore, a need that the economists devise a method that would see the dreams of economic plans. Consequently, after the