Question

To understand development, should we measure growth or poverty? Why?

Answer 1

In the given scenario, growth should be measured, because it not only tells about the progress the economy has made and prosperity it has delivered, but also it gives a fair idea regarding how much poverty is eliminated and or in what direction, poverty has changed. So, growth measurement is a broader concept that also considers poverty. But, poverty is a narrow concept and it is related to the specific community, living under the poverty line.

Hence, it is the growth and measurement of different dimensions of the growth, such as income level, employment opportunities, per capita income and quality of life of people among the other factors, that give the better understanding of the development.