Economic Development
What is Economic Development
Economic development can be illustrated as the sustainable process of developing and preserving apposite economic, social and political environments, in which economic opportunity is created for all citizens, business investment is enthused for the private sector, and public revenue base is diversified (Allen and Thomas: p40). With regards to these factors, balanced growth may be accomplished, thereby increasing the wealth of the community and enhancing the quality of life.
Whilst this definition of economic development emerges as being straightforward enough at first glance, an assessment of each of its component parts demonstrates the complexity and subtleties economic development actually encompasses (Allen and Thomas: p51).
Besides, reference to the economic, social and political environments
economic, development, social, political, each, thomas, stage, process, life, goals, formulate, fact, environments, desired, community, aspects, allen, whilst, wealth, ways, vacuum, underlines, thereby, sustainable, subtleties, strategies, straightforward, steps, since, sequence, sector, scrutinize, scholastic, revenue, results
