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Understanding of development crucial

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1. Briefly describe the various definitions of the term development encountered in the text (CHAPTER 1 Introducing Economic Development: A Global Perspective). What are the strengths and weaknesses of each approach? Do you think that there are other dimensions of development not mentioned in the text? If so, describe them. If not, explain why you believe that the text description of development is adequate.

2. Why is an understanding of development crucial to policy formulation in developing nations? Do you think it is possible for a nation to agree on a rough definition of development and orient its strategies accordingly?

3. Why is a strictly economic definition of development inadequate? What do you understand economic development to mean? Can you give hypothetical or real examples of situations in which a country may be developing economically but may still be underdeveloped?

Reference no: EM133124097

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