What Is Development?According to the World Bank, as many as half of the world’s six billion inhabitants live on the equivalent of less than $2 per day, and about one-fourth of the world lives on the equivalent of less than $1.25 per day Chen & Ravallion, 2008. Meanwhile, people in the 20 richest countries earn, on average, 39 times more than people living in the poorest 20 states Milanovic, 2007.

At the same time, the extent of world poverty has declined significantly during recent years. For example, the World Bank estimates that from 1981-2005 the percentage of people living on less than $1 per day was halved, decreasing from 52 percent to 26 percent during this period Chen & Ravallion, 2008.

These contrasting trends highlight both the problems and the progress associated with the process of “development.” On one hand, development has resulted in serious inequities between states, whereby large numbers of the world’s inhabitants are mired in poverty, especially in Africa, while inhabitants of the world’s richest countries live in both relative and absolute luxury. And yet, due to development trends, populations in poor countries are becoming wealthier over time—a process linked to globalization because countries in the developing world can raise their standards of living by integrating with highly developed states.

The term “development” in international parlance therefore encompasses the need and the means by which to provide better lives for people in poor countries. It includes not only economic growth, although that is crucial, but also human development—providing for health, nutrition, education, and a clean environment.

Read More: HERE