Translation and analysis of words by ChatGPT artificial intelligence
On this page you can get a detailed analysis of a word or phrase, produced by the best artificial intelligence technology to date:
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economic development - translation to dutch
![Payroll]] and [[income tax]] by OECD country](https://commons.wikimedia.org/wiki/Special:FilePath/Payroll and income tax by country.png?width=200 "Payroll]] and [[income tax]] by OECD country")
![Productivity lowered the cost of most items in terms of work time required to purchase. Real [[food prices]] fell due to improvements in transportation and trade, [[mechanized agriculture]], [[fertilizer]]s, scientific farming and the [[Green Revolution]].](https://commons.wikimedia.org/wiki/Special:FilePath/Cost of chicken in time worked.jpg?width=200 "Productivity lowered the cost of most items in terms of work time required to purchase. Real [[food prices]] fell due to improvements in transportation and trade, [[mechanized agriculture]], [[fertilizer]]s, scientific farming and the [[Green Revolution]].")
Definition
Wikipedia
In the economics study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives.
The term has been used frequently in the 20th and 21st centuries, but the concept has existed in the West for far longer. "Modernization", "Westernization", and especially "industrialization" are other terms often used while discussing economic development. Historically, economic development policies focused on industrialization and infrastructure; since the 1960s, it has increasingly focused on poverty reduction.
Whereas economic development is a policy intervention aiming to improve the well-being of people, economic growth is a phenomenon of market productivity and increases in GDP; economist Amartya Sen describes economic growth as but "one aspect of the process of economic development". Economists primarily focus on the growth aspect and the economy at large, whereas researchers of community economic development concern themselves with socioeconomic development as well.
