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Studying development is essentially about measuring how developed one country is compared to other countries or to the same country in the past. It is common knowledge that each country is aiming to be defined as developed. For us is to determine which measure is a better representative of how country is developed HDI or GNP per capita.

Firstly, we will define what economic development is. Secondly we will compare Gross National Product and Gross Domestic Product. Thirdly, we will outline the problems with these indicators. Finally, we will try to find out whether HDI is a solution to the problems identified in GNP/GDP.

What is economic development?

As the definition states economic development is a “sustainable increase in living standards that implies increased per capita income, better education and health as well as environmental protection.” In Process of Economic Development (J.M. Cypher and J.L. Dietz) defines two different ways of measuring economic...

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Title: ‘HDI Is A Composite Index That Is A Far Better Representative Indicator Of Economic Development Than GNP Per Capita.’ Discuss
Approximate word count: 1754
Approximate pages: 8 (250 words per double-spaced page)

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1. ‘Hdi Is A Composite Index That Is A Far Better Representative ...
   

   ‘HDI is a composite index that is a far better representative indicator
   of economic development than GNP per capita.’ Discuss. ...