In fact, what is economic development? This topic is quite often discussed on various occasions. This article will be a bit of a review on the understanding of economic development, objectives, influencing factors, and the impact for a country.
Development in economics is an economic process that aims to increase the income of the Percapita population or society in a country in the long term, accompanied by fundamental changes in economic structure and equitable Income for a country's inhabitants. The Economic development will make changes to the community, whether it is in the technological side, community mindset, or institutional.
According to Wikipedia, the sense of economic development is a process of raising total and per capita income through the calculation of population growth by a fundamental change in the economic structure of the country and Revenue equality.
Simply, economic development is a series of processes to improve the economic welfare of a country. Economic development is important for a country to avoid the social gaps that are also not detached from economic growth.
Economic development according to experts
Components in economic development
1. Building part of a process
2. Development oriented to increase revenue
3. Long-term revenue increase
Economic development indicators
Economic development Goals
- To improve the economic quality of society with equitable income
- Increase job opportunities by adding work areas that can absorb a lot of labor
- Improving the quality of education to improve human resources
- Improving public understanding of the culture of values – noble values including social, religious and cultural so as not to be easily affected by other cultures that do not conform to the prevailing norms in a country
- Avoiding possible inflation
- Positive impacts on economic development and negative impacts
- Economic development does not necessarily have a positive impact on the country. It could be that ongoing development provides certain negative side effects. The following is the positive and negative impact of development in the economic field:
Positive impacts of economic development
Economic diversity of countries
- Improving the quality of human resources due to the demands of education and technology
- Negative impacts on economic development
- Unplanned Economic development may result in environmental damage
- Development in the economic field is often oriented to the development of the infrastructures and industries that can lead to reduced agricultural land and green open.
- Factors influencing economic development
- There are two factors that influence development and economic growth, including:
Barriers to economic development
- Economic dualism. Industrial gaps can occur only in urban orientated areas.
- There is still a culture that is not as economical as custom that does not support the full use of human resources to improve its life levels such as the social status of residents, hereditary habits and philosophical barriers.
- Still many unemployment due to high birth rate
- Revenue is not distributed evenly.