DEVELOPMENT PREPARED BY: RICH PAGADUAN ECONOMIC DEVELOPMENT
• Economic development is the process by which a
nation improves the economic, political, and social well-being of its people. • Economic development can be defined as efforts that seek to improve the economic well-being and quality of life for a community by creating and/or retaining jobs and supporting or growing incomes and the tax base. 5 PHASES OF ECONOMIC DEVELOPMENT MALTHUSIAN • Proposed by Thomas Robert Malthus (1766 – 1834) • A theory about economic growth which depends on the rate of the population of a certain area • The economic growth is inversely proportional to the population. The smaller population, the higher the economic growth and vice versa. MALTHUS THEORY GOVERNMENT – LED ( LOCAL ECONOMIC DEVELOPMENT)
• An approach towards economic development which
allows and encourages local people to work together to achieve sustainable economic growth and development. • Support the formation of a partnership between local and national institutions towards strategic implementations. A LA KUZNETS (GOVERNMENT VS. ENVIRONMENT)
• Proposed by Simon Kuznets
• The existence of a pattern or behavior, between economic growth and environmental degradation, consistent with the environmental Kuznets curve (EKC) hypothesis. KUZNETS CURVE HUMAN CAPITAL BASED • Is a measure of the economic value of an employee’s skill set. • Refers to the knowledge, skill sets and motivation that people have, which provide economic value. • It could be invested in through education, training and enhanced benefits that lead to an improvement in the quality and level of production. POST DEMOGRAPHIC TRANSITION
• proposed in 1929 by Warren Thompson
• is the transition from high birth and death rate to lower birth and death rate as the country develops from pre- industrial to an industrialized economic system • fertility rate decreases when child mortality is low, and is weakly dependent in GDP.