This article discusses the relation between economic growth and development of a nation. If mathematical perspective is taken, when plotted on a graph paper both – economic growth and development index should rise and fall simultaneously to be correlated. It seems obvious in general life also. More the economic growth more is the GDP and more is the income earned by the people of the country. They will be able to access products, health facilities, education, services and other comforts.
But what about those irrational needs of human beings which occurs from time to time and results in wars and revolutions? It’s the basic instinct of human beings which comes not from economics but social sciences – the hunger for power. If one cannot get power one strives for equality in social and economic status. Economic growth can alone not provide human rights and social equality. Money can buy health facilities but not sound health. Money can buy higher education but not morals and ethics for the formation of a civilized society. Money cannot buy safe environment, save endangered species or reverse disturbing climate patterns.
To read the full, original article click on this link: Can Economic Growth of a Nation be Correlated with Development?
Author: Manoj Yadav
