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Lecture 6

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Michael Bunce

Lecture 6 The Global Development Project Concentration of wealth and spreads of poverty - Wealth is concentrated. Wealth does not spread across a population. We have concentrations of wealth in cities, countries, entrepreneurs, banks. Some economists argue that the world income will trickle down and everybody will be better off. Does globalization lead to global development? What does development mean? Will globalization reduce inequities? What does development mean? Keywords are wealth and for all. We measure wealth in countries by combining GDP and other resources. Wealth creates capital, then it goes back into the economy. GDP is the most standard way for measuring the differences between the distribution of wealth. The problem is you cant always focus on incomes and the cost of goods and services. GDP is an indicator for the potential of development. Poorest 20% had 1% of world GNP. Complex measures: Life expentancy at birth: the poorer the country the lower the life expectancy will be. Develop is more than just about economics - Development has to be sustainable,
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