Question

Should Caribbean countries focus their economic development agenda on achieving economic growth or economic development? Give...

Should Caribbean countries focus their economic development agenda on achieving economic growth or economic development? Give reasons for your answer.

Areas to be covered:

  1. Your response should define economic development and economic growth
  2. Use examples to show why you have chosen one over the other
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Answer #1

Economic development enable the progressive changes in the parameters of life expectancy for example, increase literacy level, less infant mortality rate, increased healthcare services etc. Whereas, economic growth enable the increase in GDP, GDP per capita, income etc.

Caribbean countries should focus their economic agenda on economic development because economic development leads to a holistic development of the society of an economy. When the population of the country will because capable in all aspect, in having skill, education, better healthcare facility etc. they themselves would become capable enough to increase the parameters included in economic growth, that too in more holistic way by reducing various inequality like income inequality etc.

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