...economic growth a country cannot grow itself as a whole. To understand the role of technological change in economic growth, we must first explore economic growth. Economic growth is the increase in a nation’s real gross domestic product per person over time. There are two types of growth, the positive and the negative. Some of the positive effects are better living standards, better health care, and material abundance. It also has negative effects such as environmental destruction, and increased income inequality. With each invention over the past 150 years or so, it has made economic growth easier. Even little things can make a big difference in production which can lead to greater production and more profit which in turn helps the GDP grow as well as the economy. There are tradeoffs with the technology growth, for example the invention of the cell phone. It makes everything so much easier and more convenient, but because of that people are getting rid of their household lines, thus causing phone companies to lose money, with less profit coming in they are forced to lay off people. Another way to look at it is, that those cell phones now create new jobs for people because they need to be manufactured and produced. This provides jobs and the company profits helping the economy grow. With how fast technology is expanding and making its way into the work force and making everyday lives easier it is also costing us as well. People are inventing things that only take one to do the...
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...but you are expected to complete and write up the homework independently. If you use online materials or from sources other than the assigned video and the lecture notes, then you must list your references. 1. The Many Faces of Underdevelopment Health conditions (for example, life expectancy and infant mortality rate) in an economy are an important aspect of economic development. 1) How is life expectancy correlated with the income level? Does this imply that better health conditions are the cause of a high level of income? Explain. Life expectancy is positively correlated with the income level. This does not imply that better health conditions are the cause of a higher level of income, because correlation does not imply causality. For example, the positively correlation between life expectancy and the income level may because a) better health conditions lead to higher income, or b) higher income lead to better health conditions, or c) something else cause both better health conditions and higher income. 2) According to basic growth models, do better health conditions contribute to higher income levels? Explain. Yes. Better health conditions means higher accumulation of human capital in an economy. According to the endogenous growth models, human capital is one type of capital. In basic growth models, capital accumulation is one of the driving forces of economic growth. As a result, according to basic growth models, better health conditions would lead to higher income levels...
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...provided by the Program on the Global Demography of Aging at Harvard University, funded by Award Number P30AG024409 from the National Institute on Aging. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institute on Aging or the National Institutes of Health. The authors thank Marija Ozolins and Larry Rosenberg for their assistance in the preparation of this paper. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2011 by David E. Bloom, David Canning, and Günther Fink. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Implications of Population Aging for Economic Growth David E. Bloom, David Canning, and Günther Fink NBER Working Paper No. 16705 January 2011 JEL No. J14,J15,J21,J26,O1,O4 ABSTRACT The share of the population aged 60 and over is projected to increase in nearly every country in the world during 2005-2050. Population ageing will tend to lower both labor-force participation and savings rates, thereby raising concerns about a future slowing of economic growth....
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...Assignment #1 – Health Care Issues in the United States July 17, 2011 Because the United States spends the most on a health care system, one would think that most people in the U.S. would be healthy. This is not the case. Surprisingly, the United States does not have a particularly high life expectancy rate. Within this paper I will discuss heath issues in the United States including how heath effects behavior, economics, and social structure. I will also include key stages of medical technology development and population demographics. Explain how health is affected by behaviors, economics, and social structure. Statistical data and reports show social behavior, economic status, and social structure are important determinants of health. According to Williams and Torrens, tobacco use, alcohol consumption, and illicit drug use are all examples of personal decision making and patterns of behavior that have a tremendous adverse effect on personal health and on the nation’s economy (Williams & Torrens, 2010) p.46. Individuals develop and live in social systems. People influence and are influenced by their families, social networks, the organizations in which they participate, their communities, and their society. Interventions to improve health or to influence health-related behavior can occur at any one or several of those levels. Several behaviors that exert a strong influence on health are tobacco use, alcohol abuse, physical activity, diet, and sexual practices.One example...
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...Australia | Lesotho | Life expectancy at birth (years) | 81.9 | 45.9 | Internet users per 100 people | 70.8 | 3.6 | GDP per capita ($US) | $40,286 | $1,605 | Inequality-adjusted income index | 0.720 | 0.234 | Death of women per 100,000 live births | 4 | 960 | Protected areas (%) | 10.5 | 0.5 | Homicide Rate (per 100,000) | 1.2 | 36.7 | HDI value | 0.937 | 0.427 | By comparing Australia and Lesotho, it is easy to determine which of the two the developed country is and which is the developing. It is very noticeable that there is a significant difference in the two countries. You can see this in the GDP per capita, the life expectancy at birth, and as well the death of women while pregnant and as well the number of internet users per 100 people. Seeing the huge difference in GDP per capita ($US) indicates how rich the country is. Basically everything depends on the GDP per capita. For instance, health, technology and standard of living. Seeing that Australia has a relatively high GDP per capita, being $40,286, it shows that Australia has a high standard of living and can provide all the basic necessities to the population where as in Lesotho; the GDP per capita is $ 1,605. Lesotho has a weak GDP and therefore indicates that there is not enough money to provide the population with the basics to sustain life. The life expectancy at birth is significantly different between Australia and Lesotho. Being measured in years, Australia has a life expectancy of 81.9, while...
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...word. It has got disproportionate amount of attention from policymakers and economists. It has been used excessively to measure the success or failure of any policy. But after two decades it has become clearly visible that GDP growth rate alone cannot measure the development of a nation. The difference between growth and development too has become clearer. In spite of fast paced economic growth for last 10-20 years, a large part of our population remains illiterate. A large part of our population does not have the access to safe drinking water and proper medical care. Highest number of malnourished children belongs to our nation. These are some of the bitter realities which GDP growth based measurement never reflects. All these facts suggest the need of a more holistic approach to measure the development and growth. Human Development Index (HDI) is the best available choice to measure the development. It measures the development on the basis of income, education, and life expectancy at birth. It encompasses many aspects of development rather than just income and hence offers better insight to the development. This report proposes to use Human...
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...others by their Social Age. Or social behaviors that are acceptable at a certain chronological age. Therefore we do not expect grandparents to play on skateboards than we expect teenagers to walk around with sticks. So when does old age technically begin?? There is no proper age wherein a person just turns old in one day, but modern gerontologists suggests that it usually starts between the ages of 60-65. That’s when in majority of people there are significant if not dramatic changes in mental and physical functioning. Again it is important to stress that 1. There is no single point at which a person automatically becomes old and 2. Chronological age is in any case an essentially arbitrary measure. Ageing and Stereotypes The term “ageism” was coined by Robert Butler, M.D., in 1968. Dr. Butler is a geriatrician who saw that society had developed myths, stereotypes and misunderstandings about people as they age. Graham Mulley in 2006 stated that the negative images of ageing (both historical and contemporary) have resulted in misconceptions which have influenced how we think, speak and behave. Evolution of these stereotypes according to Mulley: Sculptures: One of Norway’s artistic highlights is the sculpture park in Oslo. Vigeland has modeled over 600 life sized figures. All ages are represented: children play, young men and women dream and embrace. The section devoted to old age is austere – some subjects are ugly and others look depressed; disabled people are tended by ageing...
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...of GDP to around 10% (OECD 2006). That estimate includes the consideration that as people live longer, they also remain in good health for longer. Even including cost containment measures, results have shown that public spending on health care are expected to see large increases, and in less wealthy countries, those increases could be dramatic. The dynamic of these changes has been characterized...
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...Does the process of Globalisation help or hinder wealth creation in developing countries? Globalisation – the procedure of creating an integrated global economy, polity, and society – is an inevitable subject of much of today’s academic literature. It’s a term used in all fields, ranging from economics, sociology, and politics. Scholars address questions of what globalisation is, how it is occurring and who benefits and who loses out (Mold, A. 2007: 67). Some argue that it has helped the world, and more specifically, developing countries. On the other hand, others argue it has held back economic growth and wealth creation in developing countries. This essay will compare between these two arguments; and of course, resulting in my answer in the conclusion. But first, the causes will be described briefly, and consequences of globalisation will be examined in greater detail. After looking at the general impact it has made, it will specify on developing countries. To show evidence, case studies will be used, such as in Argentina, China, India, Morocco and sub-Saharan Africa as a whole; perceptibly linking to the explosion of globalisation that has shrunk the world. It was not until the 1960s that the term – globalisation - started to be widely used by economists and other social scientists. The phrase has since then attained general use in the mainstream press by the later half of the 1980s. Since its initiation, the concept of globalisation has stimulated frequent competing...
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...Explain how health is affected by behaviors, economics, and social structure. When approaching behavior as a possible factor that affects one’s health, they must look at all aspects of their behavior, the good, the bad, and the ugly. What a person views as a good form of behavior may not be viewed the same by someone in the medical profession. Behaviors that are presumed as risk factors for one’s health consist of reckless driving, alcohol abuse, tobacco use, unbalanced nutritional diet, and a lack of exercise. When a person changes just one of these bad habits or unapproved behaviors, they expand their life expectancy by an average of five to ten years. While watching the Doctors on NBC, they showed that a person who smokes can lengthen their life by ten years and improve their health by lowering their risk of lung cancer and coronary heart disease is decreased to half that of a smoker after one year of quitting. The economic factor of a person’s health is vastly simulated based on the depression and the economic hardship of the United States as a whole. Researchers found that the economic factor of a person’s health is directly linked to their behavior. During an economic “boom”, people tend to not take care of themselves. They drink excessively, have a higher caloric intake, and don’t exercise or visit their doctor as much due to work-related commitments. People work more and spend less time treating their bodies as the temples they ought to. A well-to-do economy...
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...Lebanon vs. Egypt Economies of Emerging Nations Dr. Yiheyis | Clark Atlanta University Submitted By: Quincy Williams December 2,2014 Lebanon vs. Egypt In this paper I will compare and contrast the countries of Egypt and Lebanon. I will explore both of the country’s economic history starting in 1980. The basis of this paper will be on the country’s global development indicators and what they tell us about that particular country. The majority of the research done in this paper was done through the world-bank website as well as the economy watch website. First I would like to provide some background on Lebanon. Lebanon is a Middle Eastern country in the west of the Asian continent that shares its borders with Syria, Israel and Mediterranean Sea. Most of Lebanon’s land is mountainous. However, the Beqaa valley, with its fertile soil, remains the source for agricultural products. Lebanon has an area of 10,452 square km and population of 4,224,000. The Lebanese economy is noted for its resilience, having withstood wars and invasions with Israel as well as internal sectarian clashes and at times dominating influence from Syria. It is this resilience that helped Lebanon achieve 9% growth during the Great Financial Crisis. The growth was nurtured by controlled banking regulations that restricted credit and therefore, its impact during the recession. As of 2011, the World Bank classified the middle class in Lebanon as those people who earn between $15,000 and $27,000 annually. But...
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...Population health Population of India Abstract Demographic change in India is opening up new economic opportunities. As in many countries, declining infant and child mortality helped to spark lower fertility, effectively resulting in a temporary baby boom. As this cohort moves into working ages, India finds itself with a potentially higher share of workers as compared with dependents. If working-age people can be productively employed, India’s economic growth stands to accelerate. Theoretical and empirical literature on the effect of demographics on labor supply, savings, and economic growth underpins this effort to understand and forecast economic growth in India. Policy choices can potentiate India’s realization of economic benefits stemming from demographic change. Failure to take advantage of the opportunities inherent in demographic change can lead to economic stagnation. 1 This chapter has been prepared for The Handbook of the Indian Economy (Chetan Ghate, Ed., Oxford University Press, forthcoming 2011). An earlier version of this chapter was presented at...
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...1. What is the average life expectancy for males and females living in these countries? What accounts for differences in this statistic by country and by gender? 2. Which of these countries has the highest population growth rate? Which has the lowest? To what do you attribute these differences? 3. What, if any, strategies are in place in these countries to accommodate this population growth? 4. In the present global economy, what challenges will governments of these countries face in ensuring the health of their aging populations? Abstract The goal of this paper is to explore three countries of ranging income groups, their population life expectancy, the chronic diseases that have become prevalent within the aging community, and the repercussions the aging community will have on the future. There are many aspects that will be covered such as the growing trend of population growth rates and how it may affect the economies of these populations in the future. The ramifications of these occurrences and what it means for the future of health care coverage for a country whose population is growing exponentially as well as a population whose aging population is increasing. We will also explore what strategies, plans and agencies that are in place to accommodate this aging population growth, as well as what can happen if there are not adequate plans to cover this crisis. The Aging Community and its Implications on the Future There is a global crisis lurking...
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... 105 – Principles of Macroeconomics Junjie Liu – Econ 105 1 Difference in Living Standards Across Countries A typical family with all their possessions in the U.K., a developed economy GDP per capita: $36,130 Life expectancy: 80 years Adult literacy: 99% Junjie Liu – Econ 105 2 1 1/22/2014 Difference in Living Standards Across Countries A typical family with all their possessions in Mexico, a middle income country GDP per capita: $14,270 Life expectancy: 76 years Adult literacy: 86% Junjie Liu – Econ 105 3 Difference in Living Standards Across Countries A typical family with all their possessions in Mali, a poor country GDP per capita: $1,090 Life expectancy: 52 years Adult literacy: 46% Junjie Liu – Econ 105 4 2 1/22/2014 Economic Growth Across the World Junjie Liu – Econ 105 5 6 3 1/22/2014 A larger, zoom-able...
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...GDP vs. HDI- the adequate measure of societal well-being Introduction “We need a new economic paradigm that recognizes the parity between the three pillars of sustainable development. Social, economic and environmental well-being are indivisible. Together they define gross global happiness,” said the Secretary-General Ban Ki-moon in the high-level meeting – “Happiness and Well-being: Defining a New Economic Paradigm” at UN Headquarters in New York on the 2sd, April, 2012. These words remind us of the fact that not just economic well-being but social well-being (as much as enviromental well-being) is also an essential factor in rating a nation’s happiness, as well as that of a man. Therefore, the important thing to do now is to find a way to measure social well–being, and should that be Gross Domestic Product (as some country has done)? However, in actual fact, there are people who believe that GDP is inadequate and it should be replaced by the Human Development Index (HDI). We find this opinion very convincing. The United States Institue of Peace (USIP) defined “social well-being” as “an end state in which basic human needs are met and people are able to coexist peacefully in communities with opportunities for advancement.” But what is an “end state”? And we can base on which factors to evaluate it? To answer these questions, the USIP also pointed out the 4 neccesery conditions to achive this “end state”, which were: Access To and Delivery of Basic Needs Services, Access...
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