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Showing posts from May, 2016

What are the Key Measures of Economic Development?

 What are the Key Measures of Economic Development? There are many considerations when it comes to measuring economic development; however, market characteristics, signs of financial development, and social factors are the key measures of economic development. What is the importance of the measures of Economic Development? It is like asking why do we measure or why we need measurements? We need measurements of everything; to evaluate, research, and improve different elements of our life. Economic measures are important because they tell us whether an economy is growing, helping its citizens to get an improved quality of life, and becoming stable. Without these measures, it would be hard for nations to identify different sectors that are lacking economic growth, as well as regions where their economic climates need work. Let's talk about some important indicators of economic development. Key Measures of Economic Development © Akhil Sharma   |   | All Right

The Pros and Cons of Globalization

Advantages and Disadvantages of Globalization Globalization (or Globalisation) means that nations can indulge in free trade with each other. Globalization is also a global movement towards communication, financial, and economical integration. The exact pros and cons of globalization cannot be determined because it is relatively a recent development; right now. So, it is really hard to figure out all the effects of globalization. There are two kinds of people globalist and anti-globalist, those who support globalization and those who are against it, respectively. Globalists usually sees its positive sides or pros, and anti-globalist look for its negative effects or cons. Globalists state that globalization is very beneficial for the quality of the life of people living in the countries as well as for the economic growth. On the other hand, anti-globalists states that globalization is harming the environment and the economy of the countries; however, they likewise believe that globa

Theories of Poverty

Theories of Poverty There are many theories relating to the cause of poverty and these poverty theories distinguish between geographic, system, individual, and patterned causes. Individual poverty theory relates to the poor economic circumstances. Geographic and system theories of poverty attribute economical and political plans, as well as the infrastructure policies. Combining both individual and system conditions, we get the patterned or cyclical causes of poverty . Different Theories of Poverty © Akhil Sharma   |   | All Rights Reserved Theories Relating to the Cause of Poverty In the past, we have discussed about   How to deal with poverty or how to stay away from poverty; . That particular blog post was about individualistic approaches on how to get rid of poverty. The struggles faced by a low income family , inflation, employment, economic recession,  and topics like "