When we are speaking of whether a country is well developed or not, Human Development Index (HDI) is always be mentioned while Human Poverty Index (HPI) rarely appears in papers. As a matter of fact, this two indexes should be measured together but not separately. Usually, countries with relatively higher poverty level tend to have lower values in HDI, yet the average values in HDI is not sufficiently enough to reveal the actual condition of the poor class hence HPI...
Human well-being is the identification and recognition that everyone and anyone in this world should have regardless of their gender, culture, age, the environment they are living in, or religion. It is measured based on facts and data that has been collected throughout people’s lives. Human Development Index (HDI) is data that has been collected in large quantities and determines worldwide ranking or a certain number of countries based on life expectancy, education, and per capita income indicators. It is...
Most important dimensions of development The most familiar dimensions of development are Economic Development, Social Development, Political development, and Environmental Development. But according to me, the most important ones are Economic Development and Social Development. Economic Development Economic growth is a subset of economic development. In simplest terms, economic growth refers to an increase in aggregate production in an economy (1). Generally, economic growth is thought about as the results of various functions like physical capital, labor capital, and human...
Anthropology is the study of humans, their cultures and societies. It is the study of the others or the unfamiliar which is made familiar and brought to the forefront by anthropologist. Anthropology is subdivided into four main categories: a) archaeological, b) biological, c) linguistics and d) cultural anthropology. Anthropology in India was recognized by academic and nonacademic institutions and organizations for many decades. The focus of this paper is to explore educational anthropology in the Indian context. To begin with,...
Some say that entrepreneurship is getting more incorporated into the countries’ economies, yet it is considered crucial for economic development. It is worth emphasizing at an early stage, that “Private” in private equity shows no relation to the secretion, but in fact, private equity defined by John Gilligan and Mike Wright in their book “Private Equity demystified, an explanatory guide” is the sum of all capitals put at risk of loss in a transaction and that, as a financial package,...
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Unemployment Rate: the unemployment rate is defined as the percentage of individuals that are not willing or are not able to participate in paid work for a variety of reasons. This is calculated using a method where the number of unemployed individuals is divided by the number of people in the labor force. This percentage is used to compare the levels of employment in different countries to calculate living standards. GDP: The GDP is known as the Gross Domestic Product...
Gross Domestic Product (GDP), as defined by Callen (2017) is a quantitative measure of a country’s economic production in a period of a year. Information of how a country is performing economically can be found through the calculation of its GDP as it is achieved by measuring the value of the final goods and services, in terms of money, which is presented in the currency of the particular country. For example, the GDP of Australia for the year 2018 will...
Australia, Developed or not? Australia is a developing country due to its economy, its citizens’ lifestyles and its ratings in the human development index. In 2017 Australia exported 243 billion dollars in goods, to China, Japan, South Korea, India, Hong Kong and More(1). Australia also imported 199 billion dollars in goods from the United States of America, China, Thailand, Japan, South Korea and more(1). Making their trading balance 44 billion dollars (1). If the commonwealth of Australia was not sustainable...