What is meant by economic development and how is it different from economic growth.
Plz give me the answer as soon as possible bcz I need it urgently.
2006-09-09 00:03:07 · 5 answers · asked by Anonymous in Social Science ➔ Economics
Economic growth is something that occurs on its own.
Economic development is a contrived reason to throw more tax money at a particular group of people, generally small business subsidizing corporations. It is merely one more form of welfare, and often also involves the new version of eminent domain (taking private property to give to another private owner, such as Home Depot or Costco). Usually also found in conjunction with another big government creative financing scheme called Tax Increment Financing (TIF), aka "self-financing bonds" (there is no such thing).
It leads to corporate America just going from location to location to find the best handouts. Local governments play bidding wars to see who can throw out the most money.
2006-09-09 01:31:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Economic development is planning for the future and preparing with development of housing and businesses as well as other public resources. Economic growth happens when people start to move in and use the facilities that have been prepared. It increases everyone's standard of living in the immediate area.
2006-09-09 00:06:10 · answer #2 · answered by Chew on this! 3 · 0⤊ 0⤋
Economic development is the development of the economic wealth of countries or regions for the well-being of their inhabitants. The study of economic development is known as development economics. Economic growth is the increase in value of the goods and services produced by an economy. Check out these sites. http://en.wikipedia.org/wiki/Economic_growth
http://en.wikipedia.org/wiki/Economic_development
2006-09-09 00:11:00 · answer #3 · answered by The_answer_person 5 · 0⤊ 0⤋
Development is a process and Growth is a quantitave measure so by development you can acheive growth which is an indicator yo your economic status. These values are comparative and never abolute.
2006-09-12 22:18:10 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Development is the structure and growth is the filling
2006-09-09 00:09:07 · answer #5 · answered by thrag 4 · 0⤊ 0⤋