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What is Economic Growth vs. Development Explained about?
This chapter introduces the key concepts of economic growth versus economic development. Economic growth refers to increases in GDP or GDP per capita over time, while economic development additionally requires improvements in standards of living across most of the population. The chapter provides historical context on the unprecedented nature of modern economic development since the Industrial Revolution. While gaps between rich and poor countries have widened in some ways, indicators also show improvements
- Author
- mailk jklmn
- Language
- EN