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Development economics - Coggle Diagram
Development economics
Economic Development
Improving quality of life
Better welfare benefits: social security
Better access to nature and leisure
Affordable access to healthcare
Reducing income inequality
Hierarchical tax system (Income based)
Raising the minimum wage
Abolishing systemic discrimination
Improving access to education
Improvement of infrastructure: eg. Schools and libraries
Access to affordable education
Subsidised educational services
Economic Growth
Increase in output (Real GDP Growth)
More employment
Stable economy
Healthy demand for new products
Correlation between the two
Supply Side policies that act in the long term, are often Eco Development, as raising the standards of living, increases the output of an economy in the long run.