Social Dimensions of the Economic Growth Essay Example | Topics and Well Written Essays - 2000 words

Social Dimensions of the Economic Growth - Essay Example This paper is an attempt to look on economic development not just as a measure of a country’s or the world’s economic progress, as a whole, but as a human development issue, incorporating the social dimension in the context of the economic development. Economic development is understood as the analysis of economic progress of nations. However, looking at the core of it, it becomes more than just the monetary computation of the economic value of the country, rather it is an amalgam of sociology, anthropology, history, politics and, all-too- often, ideology. Development is a social phenomenon that involved more than increasing per capita output, but necessitates eliminating poverty, unemployment and inequality as well A country’s economy is measured in terms of Gross Domestic Product. GDP is the total money value of goods and services produced in a country in one year, while GDP per capita is a measure of the value of products made and services provided by each person, a measure of the average productive capacity of people. Despite economic developments rates of some countries, the world still watches its people go hungry. The world through the different agencies like the United Nations, World Bank, International Monetary Fund have been vigilant about this global issue. Economic growth is more than the numbers. If the supposed economic development does not trickle down to feed the hungry mouths at the grassroots level, the numbers are insignificant. What will matter in the end are its people and their development as humans.