Social & Economic Dimensions of Development

Dimensions of Development:

Development is the term which everyone wants to define or talk about as its the most positive thing showing the progress in an optimistic way. Development refers to the potential growth of something. while talking about countries, a lot of aspects involved in the process of development. 
Following are the general concepts of development countrywise:

• Development in terms of change: it involves transformation in social, political or cultural situations
• Development in terms of Growth: it involves growing population tends to increase the Productivity and employment opportunities
• Development in terms of Human Welfare: it involves achieving of human prosperity
• Development in terms of improving equality: it involves equal distribution of wealth, assets & benefits to reduce economic gap in society
• Development in terms of Independence: it involves getting rid or reducing down levels of dependency on other countries and making self-sufficient on its own.

Now there is need to look at the measure of development; how one can measure the development of countries. Well the two most talked about perspectives of measurement in this regard are social and economic perspectives. following is the individual description for both aspects:

Global Picture of Economic Development

Economic development aims to eliminate the economic inequality and encourage the distribution of assests, wealth among all income groups. The term "Economic inequality "refers to the gap of wealth, income between different income groups among the population. it involves the income difference, disproportion of ownership of assets.

Differences in national income equality is measured by the national Gini coefficient. Gini coefficient is a number between 0 and 1, where 0 means perfect equality (everyone has same income) and 1means perfect inequality (one person has all income, and everyone else has zero income).

Over the centuries from 19th century to 20th century and from 20th to 21th century, the gini coefficient is fluctuating from o.43 to 0.68 and heading towards the 1 which is a clear indicator of perfect inequality in economical terms globally.

To control this shifting of gini coefficient and progressive economic development,  all national and international policies should be planned on the concept of sustainability as world can prosper equally from all ends only in this way. 

Global Picture of Social Development 

The term ‘social development’ describes company activities that provide the local community with opportunities to develop. While some activities may be part of the company’s core business, others may be additional activities that enhance the company’s reputation and its relationship with the community. (World Bank Forum Definition)

Globally speaking,more than 1 billion people are still living in extreme poverty, income inequality within and among many countries has been rising and, at the same time, unsustainable consumption levels and production patterns have resulted in huge economic and social costs and may endanger life on the planet.

Social development on equality basis ,hitting to all groups irrespective of their wealth, health or social status, is to be implemented to avoid the further gaps or indifferences among human beings living on earth planet. All people are meant to be taken care of and have right to live life with all adequate provisions of housing, food, transportation, and other infrastructure facilities.

The Department of Economic and Social Affairs of the United Nations Secretariat is 
a vital interface between global policies in the economic, social and environmental 
spheres and national action. The Department works in three main interlinked areas: 
(i) it compiles, generates and analyses a wide range of economic, social and environmental 
data and information on which States Members of the United Nations draw to review 
common problems and to take stock of policy options; 

(ii) it facilitates the negotiations of Member States in many intergovernmental bodies on joint courses of action to address ongoing or emerging global challenges; and 

(iii) it advises interested Governments on the ways and means of translating policy frameworks developed in United Nations conferences and summits into programmes at the country level and, through technical  assistance, helps build national capacities.

Conclusion:
Sustainable development strategies need to be inclusive and take special care of the needs of the poorest and most vulnerable. Strategies need to be ambitious, action-oriented and collaborative. They will need to change consumption and production patterns systemically, which might entail, inter alia, significant price corrections; encourage the preservation of natural endowments; reduce inequality; and strengthen economic governance.