Global Development Explained | World101

Summary

The video script explores the concept of development, highlighting the significance of GDP per capita as an indicator of a country's economic status. It outlines essential conditions for economic growth, including peace, education, access to capital, rule of law, and equal opportunities. The script also delves into international aid, its motivations, and the broader definition of development encompassing human rights and the environment, as reflected in the UN's Sustainable Development Goals. The progress made in reducing poverty, increasing education, and raising income levels is noted, emphasizing the ongoing journey towards global betterment.

Takeaways

• 🌱 **Development Defined**: The script explains development as the process of societal advancement, often measured by GDP per capita, which indicates a country's economic health relative to its population size.
• 🏛 **Peace and Stability**: Essential for economic growth, as daily struggles for survival hinder regular work and earning capabilities.
• 🎓 **Quality Education**: Crucial for productivity and innovation, enabling individuals to read, do math, and adapt to new technologies.
• 💼 **Access to Capital**: Necessary for starting businesses and advancing industries, either accumulated domestically or sourced from abroad.
• 📜 **Rule of Law**: Foundational for economic growth, ensuring government officials operate by a legal code and respect property rights.
• 👥 **Equality of Opportunity**: Eliminating discrimination allows for full participation in markets and jobs, maximizing economic potential.
• 🤝 **International Assistance**: Countries often help others by facilitating peace talks, funding education, and providing loans for infrastructure to foster growth.
• 🌐 **Mutual Benefits**: Helping other countries can improve security by reducing the formation of violent groups and can boost economies through trade and investment.
• 🌱 **Expanded Definition of Development**: Since the 1980s, development has included not just economic growth but also human capabilities to live freely without discrimination.
• 🏥 **Health and Environment**: Modern healthcare access and pollution-free environments are part of the broader development goals.
• 🗳️ **Political Equality**: The freedom to express opinions and participate politically is a key aspect of development.
• 🎯 **Sustainable Development Goals (SDGs)**: The UN's 17 SDGs guide development efforts, targeting economic growth, environmental protection, democracy, and equality.
• 📊 **Global Progress**: The script highlights significant improvements over the past 40 years, including a 75% decrease in extreme poverty, a nearly 50% increase in school attendance, and a fourfold increase in average income.

Q & A

What is the process referred to as 'development' in the context of the script?

Development in the script refers to the process by which societies advance, leading to longer, healthier lives for their citizens, improved living standards, and the availability of modern amenities.

How is a country's economic size typically measured?

A country's economic size is typically measured by its Gross Domestic Product (GDP), which is the total value of all goods and services produced within the country over a year.

What is GDP per capita and why is it significant?

GDP per capita is the GDP of a country divided by its population. It is significant because it indicates the average economic output per person, which can be used to gauge a country's wealth and standard of living.

Why might a country with a large GDP have a relatively low GDP per capita?

A country with a large GDP might have a relatively low GDP per capita if it also has a large population, which dilutes the total economic output among more individuals.

What are some factors that contribute to a country's economic growth and development?

Factors contributing to a country's economic growth and development include peace and stability, quality education, access to capital, the rule of law, and equality of opportunity.

Why is peace and stability important for a country's economic development?

Peace and stability are important because they provide a secure environment for people to work and earn a living, which is essential for economic productivity and growth.

How does quality education impact a country's economic development?

Quality education equips people with the skills and knowledge needed to be productive workers and informed consumers, fostering innovation and the adoption of new technologies, which in turn drives economic growth.

What role does access to capital play in a country's economic growth?

Access to capital is crucial for starting new businesses and developing advanced industries. It provides the necessary funds for investment, which can be accumulated domestically or sourced from abroad.

Why is the establishment of the rule of law important for economic growth?

The rule of law, particularly when it includes strong property rights, encourages economic growth by creating a fair and predictable environment where people are more likely to start businesses, invest, and work hard knowing their rights are protected.

What does the script suggest about the relationship between eliminating discrimination and economic development?

The script suggests that eliminating discrimination against women and minorities and ensuring equal opportunity can unleash the full economic potential of all individuals, contributing to a country's overall economic development.

Why might one country help another country grow economically?

Countries might help others grow economically for humanitarian reasons, to improve their own security by reducing threats from violent groups in poor countries, and to boost their own economies by creating beneficial trade partners and investment opportunities.

What has the concept of development expanded to include since the 1980s according to the script?

Since the 1980s, the concept of development has expanded to include not only economic growth but also human abilities to live freely without discrimination, access to modern healthcare, live in pollution-free environments, and have political equality and freedom of speech.

What are the UN's 17 Sustainable Development Goals (SDGs) and what do they aim to achieve?

The UN's 17 SDGs, adopted since 2016, aim to target economic growth while also protecting the environment, encouraging democracy, and promoting equality worldwide.

How has the world progressed in terms of development over the past 40 years according to the script?

Over the past 40 years, the world has seen a dramatic decrease in extreme poverty by 75%, an increase in the number of students going to school by nearly 50%, and a quadrupling of the average income.

Outlines

00:00

🌏 Economic Development and its Pre-Conditions

This paragraph delves into the concept of development, highlighting the transition from primitive lifestyles to modern conveniences. It explains the distinction between developed and developing countries based on GDP per capita, which is the economic output divided by population size. The paragraph emphasizes the importance of peace, education, access to capital, the rule of law, and equality of opportunity as essential conditions for a country's economic growth. It also touches on the reasons why countries might assist others in their economic development, including humanitarianism, security, and economic benefits. The role of the United Nations Development Program and the Sustainable Development Goals (SDGs) in promoting a holistic view of development that includes environmental protection, democracy, and equality is also mentioned.

05:01

🚀 Opportunities for Global Progress

The second paragraph acknowledges the significant strides made in global development over the past decades, such as the drastic reduction in extreme poverty, increased school enrollment, and a quadrupled average income. However, it also points out that there is still much room for improvement and further development. It suggests that every country has the potential to enhance the quality of life for its citizens, implying a call to action for continued efforts towards a better world.

Keywords

💡Development

Development in the context of the video refers to the process by which societies grow and improve, leading to better living conditions for their citizens. It is closely tied to the video's theme as it discusses the economic and social progress of countries. For example, the script mentions that development is often measured by a country's GDP per capita, which is an indicator of a nation's economic health and the standard of living of its people.

💡Gross Domestic Product (GDP)

GDP is the total value of all goods and services produced within a country's borders over a specific time period, normally a year. In the video, GDP is used as a primary measure to classify countries as developed or developing. It is mentioned that a country's GDP, when divided by its population, gives the GDP per capita, which is a key indicator of a country's wealth and development level.

💡GDP per capita

GDP per capita is the GDP of a country divided by its population size. It is used in the video to determine the economic well-being of a country's citizens. The script explains that countries with high GDP per capita are considered richer and more developed, while those with low GDP per capita are seen as poorer and in the development stage.

💡Peace and Stability

Peace and stability are essential conditions for economic growth as mentioned in the video. They provide a secure environment for people to work and earn a living, which is fundamental to a country's development. The script emphasizes that without peace, it is nearly impossible for people to engage in regular economic activities.

💡Quality Education

Quality education is highlighted in the video as a crucial factor for a country's development. It equips people with the skills necessary to be productive workers and informed consumers. The video script points out that increasing knowledge fosters innovation and the spread of new technology, which are vital for economic growth.

💡Access to Capital

Access to capital is the ability to obtain money needed to start businesses and develop industries. In the video, it is identified as a key condition for economic growth. The script notes that capital can be accumulated domestically or sourced from abroad, and it is essential for the establishment of more advanced industries.

💡Rule of Law

The rule of law in the video refers to a legal system where government officials operate by a written legal code, ensuring fairness and preventing corruption. It is important for economic development as it includes strong property rights, which encourage people to start businesses and work hard, knowing they can keep what they earn or build.

💡Property Rights

Property rights are the legal protections granted to the owners of property. In the context of the video, strong property rights are part of the rule of law and are essential for economic growth. They give people the confidence to invest and innovate, knowing their assets are secure.

💡Equality of Opportunity

Equality of opportunity means that all people have fair chances to participate in the economy without discrimination. The video script discusses how governments can promote economic development by eliminating discrimination and ensuring equal treatment under the law, allowing everyone to work in jobs that best suit their abilities.

💡Humanitarianism

Humanitarianism is the principle of helping others purely out of compassion or moral obligation. In the video, it is mentioned as one of the reasons why countries might help other countries grow economically. It reflects the belief that all humans should be helped, regardless of where they live.

💡Sustainable Development Goals (SDGs)

The SDGs are a collection of 17 global goals set by the United Nations to address a broad range of sustainable development issues. The video script explains that since 2016, the UNDP has been guided by these goals, which aim not only to promote economic growth but also to protect the environment, encourage democracy, and promote equality.

💡Extreme Poverty

Extreme poverty is a state of deprivation where people lack the basic necessities for a decent standard of living. The video script mentions that there has been a significant decrease in extreme poverty over the past 40 years, which is a testament to the progress made in global development.

Highlights

Life has gotten easier and better for most of humanity due to development.

Development is measured by a country's GDP per capita, which is the GDP divided by population size.

Countries with high GDP per capita are considered richer and more developed, while those with low GDP per capita are seen as poorer and developing.

Peace and stability are important for a country's economic growth as it allows regular work and earning.

Quality education is crucial as it enables people to be productive workers and fosters innovation.

Access to capital is needed to start businesses and establish advanced industries.

The rule of law, including strong property rights, encourages economic growth by allowing people to keep their earnings and inventions.

Equality of opportunity by eliminating discrimination ensures everyone can participate in the market and work in suitable jobs.

Some countries help others grow economically for humanitarian reasons, viewing it as the right thing to do.

Helping other countries can improve a country's own security by reducing the likelihood of violent groups forming.

Economic development in other countries can boost a country's own economy through beneficial trade and investment opportunities.

Since the 1980s, development has expanded to include human abilities to live freely without discrimination and access to modern healthcare.

The United Nations Development Program incorporates the new understanding of development in its mission, guided by the 17 Sustainable Development Goals (SDGs).

The SDGs aim not only to target economic growth but also to protect the environment, encourage democracy, and promote equality.

The world has seen dramatic improvements over the past 40 years, with a 75% decrease in extreme poverty, a 50% increase in school attendance, and a quadrupled average income.

There are still many ways for the world to further develop and for every country to become a better place to live.

Transcripts

Humans have come a long way. From hunting our food,

to growing it, to ordering it over the phone.

Life has gotten easier and better for most of humanity.

As we've built advanced societies with many people leading longer

and healthier lives made even better by modern amenities.

This process is called development.

We often hear people divide up the world into developed and developing countries.

But what do those labels mean?

The best measure is to take the size of a country's economy,

its gross domestic product, or GDP,

which is the total value of all goods and services from crops to cars

and from waiting tables to writing wills that are traded or produced

within the borders of a country over a period normally a year,

and then divide it by the number of people that live there.

This is called GDP per capita.

Some countries

with a large GDP have a large population.

So their GDP per capita might be relatively low.

On the other hand, some countries with a small GDP might have a small population.

So their GDP per capita might be relatively high.

Countries with high GDP per capita

are considered richer and more developed, and countries with low GDP

per capita are considered poorer and said to be developing.

So why do some countries have higher GDP per capita than other countries?

Well, every country is unique,

but there are some important conditions that are required for countries

to really grow and sustain healthy economies.

First, there needs to be peace and stability.

When people struggle to survive every day.

It's nearly impossible for them to go to work regularly and earn a living.

Second, populations need quality education.

If people are able to read and do math, they are likely to be productive workers

and savvy consumers.

And increasing knowledge fosters innovation and helps spread

new technology.

Third, people need access to capital.

Starting new businesses and establishing more advanced industries requires money,

which can be accumulated domestically over time

or source from abroad much more quickly.

Fourth, countries need to establish the rule of law,

where government officials operate by a written legal code

instead of corruptly helping themselves and the people

they like and harming those they don't like.

When the rule of law includes strong property rights, it spurs economic growth.

People are more likely to start businesses and work hard.

When they are able to keep the money they earn, the things they build and the

ideas they invent.

Fifth, there

needs to be equality of opportunity.

If governments eliminate discrimination against women and minorities,

ensuring that businesses and the law treats all people equally,

they can participate in the markets they want and can work in.

The jobs are best suited for unleashing their full economic potential.

Many countries struggle to achieve these five preconditions

for economic growth, but other countries frequently offer to step in and help

by hosting peace negotiations, funding and supporting education programs

and offering cheap loans for infrastructure projects.

But why would one country care about helping another country grow economically?

Well, there's several reasons.

Some governments value humanitarianism

and simply view it as the right thing to do.

We should all try to help our fellow humans no matter where they live.

Countries can also help themselves by helping other countries.

They can improve their own security Poor countries are vulnerable

to terrorists, pirates and drug cartels.

Those dangerous groups don't necessarily respect borders

and often spread violence and conflict to other countries.

But if a country has a growing economy, those violent groups are less likely

to form reducing the security threats for other countries.

Another reason

countries help other countries is to boost their own economies.

If other countries are more prosperous, they can become more beneficial

trade partners and can offer new investment opportunities.

But development isn't just about economics.

Since the 1980s, the concept of development has expanded

to include humans abilities to live their lives the way they want.

Are people able to move freely without discrimination?

Can they access modern health care and live in environments free of pollution?

Do they have political equality and the freedom to speak their minds?

The United Nations Development Program works to help countries improve,

and it has incorporated

this new understanding of development and its mission.

Since 2016 the agency has been guided by the UN's 17

Sustainable Development Goals, or SDGs,

which not only target economic growth but also aim to protect the environment.

Encourage democracy and promote equality.

Overall, the world has improved dramatically over the past 40 years.,

Extreme poverty has decreased by 75%

The number of students going to school has increased by nearly 50%,

and the average income has quadrupled.

But there are plenty of ways for the world to further develop, and for every country

to become a better place to live.