Question

human development and economic growth are two different paradigms that imply different objectives measurements techniques and policies. Discuss​

Answer 1

Answer:

Economic growth focuses on the health and robustness of an economy while human development is interested in the wellbeing of the population in terms of nutrition, education, and quality of life.

Explanation:

Economic growth tends to favor corporations and the increase in the gross domestic product in a country. A country may introduce favorable terms of trade and lower taxes on foreign corporations in order to attract foreign investment. This however can sometimes run counter to human development which focuses on the quality of life in society for individual and average citizens. Foreign corporations are attracted to areas where the costs for labor are relatively low. But this creates an ethical dilemma in that low wages rarely improve indicators in human development and the external factors like the health of employees are passed onto the host society. It is also exploitative to seek out people who are willing to work for low wages out of necessity.