Transcript of "Factors that hinder or promote Development"
• What is Development?• Development means improvement in a countrys economic and social conditions. More specifically, it refers to improvements in ways of managing an areas natural and human resources in order to create wealth and improve peoples lives. This definition is based on the more obvious distinctions in living standards between developed and less developed countries.
Development is• Improvement of a countries: • Economic • political • Management of natural and human resources • Tourism • Political Ideologies
Concepts of DevelopmentDevelopment – refers to the sustained level ofeconomic and social well being in a country.Sustainable development – refers to the concept ofadvancing a people’s quality of life, in terms ofeconomic criteria as well as human dynamics,particularly the conservation and protection of theenvironment.
• Development as an increasing differentiation or complexity: is a Conceptualization of development that states that for anything to develop it must become more complex and more differentiated- its component parts will integrate with better and deeper linkages.
Development as an enactment of Human Values : is a conceptualization that for anything to develop or become better improvements has to related to some values that are being enacted.
When concentrated in the hands of a few, it canlead to low levels of investment, highunemployment, high levels of unskilled labour force(since there will be low expenditure on education. Itcan also lead to corruption. The result is low productivity among high-incomeearners, capital flight and brain drain. It leavesgovernment with a high borrowing from internationalsources, which result I higher taxes and risinginflation
Resources are materials or other assets that are transformed to produce benefit and in the process may be consumed or made unavailable. From a human perspective a natural resource is anything obtained from the environment to satisfy human needs and wants.
Some of the resources in the Caribbean that have provided jobs: Barrick Gold’s Pueblo Viejo Project in The Dominican Republic which so far has created 4,465 jobs. cobalt, nickel, iron ore, copper, manganese, salt, timber, silica, and petroleum in Cuba.
Bauxite Mining in Jamaica : according to the gleaner July 23, 2010 More than 600 people are to get direct employment while hundreds more will benefit indirectly full operation in Ewarton, St Catherine. Guyana: Natural resources bauxite, gold, diamonds, hardwood timber, shrimp, fish
Absence of mineral; forestry and other resourcesin most territories.This has placed some limitation on developmentstrategies and options. Except for Jamaica,Guyana, Trinidad and Belize , a lack of resourceprevents production and resources available to allallows for production of the same products,hence difficulty in finding markets.
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