The growth is an increase or increased somewhat and development indicates a transformation or evolution. In general, development is the result of sustained growth, which can lead to confusion between the two terms; however, there may be growth without associated development.
Growth and Development (Economics Point of Views)
The economic growth is defined as the rise in national income or per capita gross domestic product or gross national product (GNP / GNP). The economic development is defined as an increase in income per capita , improved quality of life, reducing poverty and fundamental changes in the structure of the economy.
The terms “economic growth” and “economic development” are often confused. For development to occur, citizens must participate in the process of structural change and must benefit from the fruits of change. Therefore, growth can occur without development, but development without growth is not likely.
Economic growth is the process of improvements in the living conditions of a society, which is measured as the increase in real income per person, reflected in the country’s gross domestic product GDP. This process depends on the net investment and possible technological advances that the workforce may have made.
The factors that affect economic growth are:
- population growth : a larger population increases work capacity.
- Technological progress : improves the opportunities for an individual to find ways to innovate.
- The search for individual profit : An example of this is found in the spectacular growth of China since 1978, when the Deng Xiaoping government allowed farmers to increase production for their own benefit.
- The strength of political and legal institutions : when the institutions of a country are functional and independent, they allow the economic growth of the same.
- Private property : the right to have possessions is related to the incentive for growth.
In practical terms, economic development occurs when there is a transition from an agrarian or raw material-based economy to an industrial and knowledge-based economy, adopting new technologies and the general improvement of quality of life standards.
Economic development is generally associated with different ideas:
- the idea of modernizing economic and social institutions.
- The idea of sustained economic growth within a national economy.
- The idea of continuous improvement of the material well-being of the human population of the earth.
- The idea of a wider use of the world’s resources and the idea of replacing “traditional” institutions and values with “modern” successors.
Economic development results from the dynamic interaction of:
- economic growth,
- improvement of the quality of life and
- structural, technological and social transformation.
The Human Development Index by the United Nations Development Program is designed to provide a measure of economic development that goes beyond measuring the growth of per capita income and instead focuses on measures that are correlated with the quality of life such as:
- education level.
Growth and Development in Biology
When the term ” biological growth ” is used, it refers to the increase in size or number of individuals. For example, when bacteria divide and form colonies, there is an increase in bacterial cells which is termed as bacterial growth.
On the other hand, the term ” development ” in biology involves transformations that occur in a living being that lead them to a higher level of maturation. For development to occur, there must be growth of the underlying structures.
Human Growth and Development
The human growth is defined by an increase in size, whose end point is the height reached by an adult, while the development is increased functional capacity, whose end point is when the human being is functionally capable of bearing. In this sense, human development involves not only biological development, but also mental and social development.
The control of human growth and development, which can last up to 20 years, is determined by genetics and the environment.
Personal Growth and Development
The personal growth involves aspects of the type how a person reacts when presented with new information and situations, how it relates to other people and what ways have fun. The personal development focuses with new learning, performance improvements as a person and / or professional.