General Studies Class 12

NARAYANA VIDYALAYAM

GENERAL STUDIES ECONOMIC AND SOCIAL DEVELOPMENT A Project Report Submitted By Partial Fulfilment of the Requirements For Class XII General Studies

SUBMITTED BY RAHUL PRIYADARSHI

PROJECT GUIDE MRS. BABITA KARMORE DEPARTMENT OF PHYSICS NARAYANA VIDYALAYAM, NAGPUR

2013-2014

Economic and Social Development In our days an important key for economic and social development is the energy sufficiency. Energy is the fuel of growth. As scientist predictions show by 2050 the energy demand would be increase significant due to the fact that the population of the earth rises and more buildings are going to be constructed.

A lot of predictions are published about how fast the population, the economy and the energy consumption of the world will increase in the years and decades to come. On the matter of growth, development and energy demand more of the predictions were proof wrong. Most of the predictions are reciprocally relying on each other and each one of them is relying on many other factors. However the only prediction that can be made securely for the population is that "the growth will be larger in the less development countries than the developed countries”. Developed countries manage to improve the living conditions and decrease the death rate, but the same time the birth rate has been decreasing around the same rate over the last century.

The population increase is directly connected with the energy demand and the building sector. It is essential need the development of new energy technologies on massive scale foe the people's survival on this planet. The ordinary buildings are unable to contribute on these essential

needs and cover the gab of the energy demand which is going to follow the next decade.

The interplay between economic and non-economic factors is of great importance for our understanding of the dynamics of socio-economic development. Economic development cannot be explained by economic factors only, and the concept of development includes more than mere changes in economic indicators.

The long-term approach to development is more detached. One tries to identify the factors that may help to explain different patterns of development, such as the accumulation of production factors, the efficiency with which these factors of production are being used, technological changes, external political and economic influences, historical factors, institutions and cultural differences.

Finally, the historical study of processes of economic growth reveals the importance of processes of saving and investment in the accumulation of factors of production. Such a study leaves us under no illusion with regard to the human costs of economic growth. In the past, economic growth has always been coupled with an enormous increase in the capital-labour ratio.

Development is unavoidably a normative concept involving very basic

choices and values. Our normative assumptions should therefore be made explicit.

Though the formulations vary greatly, in practice most writers on development come up with a set of similar developmental goals including reduction of poverty, increased economic welfare, improved health and education, and increased political and social freedom. Development can then be defined as a movement in the direction of these developmental goals.

An increase both in productivity and production per head of population in poor countries is an essential ingredient of every definition of ‘development’. Economic growth always remains one of the necessary conditions for ‘development’.

The fact that there are modernisation ideals or development goals, does not mean that all societies ought to develop in the same manner or that they ought to converge to some common standard.

QUOTATIONS A successful economic development strategy must focus on improving the skills of the area's workforce, reducing the cost of doing business and making available the resources business needs to compete and thrive in today's global economy. Rod Blagojevich

Economic development is what's going to make mountaintop removal palatable. Joe Manchin

Our approach to economic development must be modern, focused and in tune with the global trend. Ibrahim Babangida

That's an economic development program in the metropolitan area. If they don't see that, and you don't get these things done, then you're competing with Texas and California and Atlanta; then you really have problems.

Richard M. Daley