IDSB01H3 Lecture Notes - Modernization Theory, Feudalism, Black Market
25 Feb 2013
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Lecture 2: the concept of development: mean and measurement of. Measuring development: can be done in (2) ways income measures & human. Development index: economists like to quantify development: both have different visions of what development is. # 1: income measures: how much stuff /goods and services people have : gdp: market value of all final goods and services produced in a country, gni: total income accruing to the residents of a country, ex. Mexico: produces cars in mexico, the $ from those sales goes to mexico"s gdp: ex. Peter monk: has mining operations worldwide sales account to the hosts countries gni, but to canada"s gdp(because he"s canadian) *big gni = a lot of foreign investment. Income measures: why use income as a measure of development, measures whether or not people can support themselves, possible indicator of whether forms of development are taking place in a country (infrastructure, gov"t)
