Economic Development Cities around the world want the best for their people, many cities want to become highly developed and fast and when cities take shortcuts to becoming highly developed many problems occur. Every city must go through four stages of economic development to make it a successful one these four stages are: Primitive Equilibrium, Transition, Takeoff and Semi Development, and finally Highly Developed. However how are countries placed into these stages, this depends on the measurements of economic development. Economic Development is a very complex topic because of how each country works differently and shortcuts should not be taken to go into stages faster because in most cases it may result into causing a country to go into an economic crisis. So what does it mean to be developed in this world? The first stage of economic development is Primitive Equilibrium. This is a stage, which many people today haven’t lived through this is because everything in this stage is based on tradition. Every city must go through this stage for it to even be existent; some examples are the ancient civilizations like Egyptian, Greek, Roman, and Chinese Civilizations. This stage includes almost no organization of an economic system. Needs for people were would is water and food that were sold during this stage also. Desires also called consumer goods were different during this period it was harder to trade between civilizations. Some desires are different, some consume goods may include spices, and new inventions that are discovered. This is why it was almost impossible to even think of being highly developed at this stage. This is because there is not enough resources supplied o the people like education, healthcare and other needs also many people in a highly developed city live on consumer goods. The Second stage of economic development is Transition. This a stage where there is some sort of an economic system adopted. Needs become easier to get, desires become more advanced. Also in this stage industries are introduced. This stage wouldn’t exist much either; it may exist in some poor countries around the world however. Globalization would exist much more in this stage and only when travel got easier it could develop faster. The countries income and growth would be determined in this stage by the productivity, which basically means the amount of goods and services produced by a worker per hour. Investment is the saving rate of the country. Finally Human Capital is the knowledge and experience of people in the country. Becoming highly developed from this stage may be possible only if the country has shown to have highly developed industry where science and technologies advance quickly. Also another factor is if many wealthy people come to live in the city because of good needs and desires. Only when this happens to a city it may begin to see some shortcuts taken. Also to mention that not all shortcuts are horrible and could even be quite successful. The third stage of economic development is takeoff and semi development. Many countries today are at this stage, this is where the measurements used in economic are hard to take. This is because the population is very varied in terms of the measurements’ throughout the country. They varied in the fact that many are poor, average, and rich. Some have good healthcare some don’t, the same goes with education, and access to basic needs. This stage is also where the country becomes more popular internationally through trade making it much more globalized. Industries become more developed giving a country a better Gross Domestic Product (GDP). The Human Development Index (HDI) is critical in this stage because of the variation in the country and includes many different measurements that would have helped throughout the stages however especially in this one because of the growing population in this stage. The GINI also helps p measure the variation of how many people are poor and how many people are poor in a country. This is where a city must look through graphs and indexes to determine and see what there re problems in areas of the city and must be fixed by the government. Only when almost every problem is fixed and all needs and desires are met extremely easily is when a city may move on to the next stage. The final step is being Highly Develop, this is when a nation is mainly focused on consumer goods and basic needs are met extremely easily. In this stage everyone in a city should have a basic healthcare, no poverty, and Education for it to be stated as developed. Many nations do not go under this category. Nations like Canada, Australia, and the United States are found in this category. Exports and imports are a big part in a country, making highly developed cities very globalized. Other factors that include to being highly developed is water systems, science and technology, clean energy and power plants, transportation system, agriculture technologies, and promoting a sustainable living. Finally shortcuts in these four stages must know that much economic development may occur only when needs and desires are met for each stge. One example in the real world is Dubai in the United Arab Emirates still a young city today it has developed to extreme levels in just 7 years. However many shortcuts were taken and it is now under much debt and many are losing jobs and even there homes. Another good example that shows this problem are games that have created models to show economic development has shown development to occur in time and that zoning for highly development will not develop until resources are provided.
Article 1- Coming: The biggest boom ever The article talks about how population growth and that how populations factors into peoples
Needs – The world population is constantly growing meaning a need of more water, food shelter, any essential goods are needed more. Desires- Globalization had helped give many people desires making it somewhat successful, this is because many nations still have people living under the poverty line Fear- People fear terrorist attacks that occur everywhere around the world and other crimes. This is why personal security must be provided in ways like police, and city surveillance. Competition- Every nations economy wants to be up high in the ranking, this sticks competition in the world The article continues to talk about for good development countries need to haveWater SystemScience and TechnologyClean Energy and Power plantsTransportation systemAgriculture technologies and solutionsPromoting sustainable living
Article 2- Cities and Development The paper talks about the difference between Urbanization and economic development. This is done by looking back into the history of already developed nations and even developing nations that show a some useful history.
The Article is long but breaks it up into sub headings to make it easier to understand. Some examples are The Urbanization-Growth Link this is the first sub heading it talks about how urbanization is measured through indexes like the PPP and GNI.
Article 3- City Planning I find this article to be simple and helpful on many ways. It starts off by talking about the history of city planning in ancient Greece and Rome. It continues to talk about development from ancient times to the Europe and how it developed through the 1600s to 1800s. The article also talk about the United States and cities in it are planned throughout the country. Thos will be very helpful because many countries today find the United States to find it as a good model because of how greatly economic developed it is. However these coming years there had been an economic crisis which rises questions if we should even trust the system the have used. Finally the article ends with modern city planning and what the expect in the future for cities around the world. When many developing countries may become developed or maybe become under developed in the future.
Article 4 Trade and Globalization In this article it talks about Trade and globalization policies in the US. This will help relate to how economic development had developed in cities throughout the country. Looking through the article I see many rules that are applied through the US Government.
Video 1
In this Videos it discusses a lot of important facts that will be extremely helpful to my presentation. It looks into how economic development is measured around the World.
These Measures include
Long Life expectancy Low Child MortalityNo PovertyAccess to Clean and Safe drinking waterBasic HealthcareEducationGross Domestic ProductHuman Development Index
It compares countries GDP and other factors to the US like how people live in other countries around the world. They also continued through the video explain the determinants of income and growth.
These Determinants include
Productivity ( The number of good ands services produced by a worker per hour)Investment (Saving rate of Country)Human Capital (Knowledge and experience of people )
Website 1
This Website is great connection to where live, thee is a whole section on the KAUST website dedicated to KAUST’s Economic development. It talks about the Building and what are in the building that makes it developed for people. There is Something called a seed fund which is basically the money that was put in to the project to help make it developed. Finally there is also a FAQs Page which I can take some ideas from.
Cities around the world want the best for their people, many cities want to become highly developed and fast and when cities take shortcuts to becoming highly developed many problems occur. Every city must go through four stages of economic development to make it a successful one these four stages are: Primitive Equilibrium, Transition, Takeoff and Semi Development, and finally Highly Developed. However how are countries placed into these stages, this depends on the measurements of economic development. Economic Development is a very complex topic because of how each country works differently and shortcuts should not be taken to go into stages faster because in most cases it may result into causing a country to go into an economic crisis. So what does it mean to be developed in this world?
The first stage of economic development is Primitive Equilibrium. This is a stage, which many people today haven’t lived through this is because everything in this stage is based on tradition. Every city must go through this stage for it to even be existent; some examples are the ancient civilizations like Egyptian, Greek, Roman, and Chinese Civilizations. This stage includes almost no organization of an economic system. Needs for people were would is water and food that were sold during this stage also. Desires also called consumer goods were different during this period it was harder to trade between civilizations. Some desires are different, some consume goods may include spices, and new inventions that are discovered. This is why it was almost impossible to even think of being highly developed at this stage. This is because there is not enough resources supplied o the people like education, healthcare and other needs also many people in a highly developed city live on consumer goods.
The Second stage of economic development is Transition. This a stage where there is some sort of an economic system adopted. Needs become easier to get, desires become more advanced. Also in this stage industries are introduced. This stage wouldn’t exist much either; it may exist in some poor countries around the world however. Globalization would exist much more in this stage and only when travel got easier it could develop faster. The countries income and growth would be determined in this stage by the productivity, which basically means the amount of goods and services produced by a worker per hour. Investment is the saving rate of the country. Finally Human Capital is the knowledge and experience of people in the country. Becoming highly developed from this stage may be possible only if the country has shown to have highly developed industry where science and technologies advance quickly. Also another factor is if many wealthy people come to live in the city because of good needs and desires. Only when this happens to a city it may begin to see some shortcuts taken. Also to mention that not all shortcuts are horrible and could even be quite successful.
The third stage of economic development is takeoff and semi development. Many countries today are at this stage, this is where the measurements used in economic are hard to take. This is because the population is very varied in terms of the measurements’ throughout the country. They varied in the fact that many are poor, average, and rich. Some have good healthcare some don’t, the same goes with education, and access to basic needs. This stage is also where the country becomes more popular internationally through trade making it much more globalized. Industries become more developed giving a country a better Gross Domestic Product (GDP). The Human Development Index (HDI) is critical in this stage because of the variation in the country and includes many different measurements that would have helped throughout the stages however especially in this one because of the growing population in this stage. The GINI also helps p measure the variation of how many people are poor and how many people are poor in a country. This is where a city must look through graphs and indexes to determine and see what there re problems in areas of the city and must be fixed by the government. Only when almost every problem is fixed and all needs and desires are met extremely easily is when a city may move on to the next stage.
The final step is being Highly Develop, this is when a nation is mainly focused on consumer goods and basic needs are met extremely easily. In this stage everyone in a city should have a basic healthcare, no poverty, and Education for it to be stated as developed. Many nations do not go under this category. Nations like Canada, Australia, and the United States are found in this category. Exports and imports are a big part in a country, making highly developed cities very globalized. Other factors that include to being highly developed is water systems, science and technology, clean energy and power plants, transportation system, agriculture technologies, and promoting a sustainable living.
Finally shortcuts in these four stages must know that much economic development may occur only when needs and desires are met for each stge. One example in the real world is Dubai in the United Arab Emirates still a young city today it has developed to extreme levels in just 7 years. However many shortcuts were taken and it is now under much debt and many are losing jobs and even there homes. Another good example that shows this problem are games that have created models to show economic development has shown development to occur in time and that zoning for highly development will not develop until resources are provided.
Summaries
Article 1- Coming: The biggest boom ever
The article talks about how population growth and that how populations factors into peoples
Needs – The world population is constantly growing meaning a need of more water, food shelter, any essential goods are needed more.
Desires- Globalization had helped give many people desires making it somewhat successful, this is because many nations still have people living under the poverty line
Fear- People fear terrorist attacks that occur everywhere around the world and other crimes. This is why personal security must be provided in ways like police, and city surveillance.
Competition- Every nations economy wants to be up high in the ranking, this sticks competition in the world
The article continues to talk about for good development countries need to haveWater SystemScience and TechnologyClean Energy and Power plantsTransportation systemAgriculture technologies and solutionsPromoting sustainable living
Article 2- Cities and Development
The paper talks about the difference between Urbanization and economic development. This is done by looking back into the history of already developed nations and even developing nations that show a some useful history.
The Article is long but breaks it up into sub headings to make it easier to understand. Some examples are The Urbanization-Growth Link this is the first sub heading it talks about how urbanization is measured through indexes like the PPP and GNI.
Article 3- City Planning
I find this article to be simple and helpful on many ways. It starts off by talking about the history of city planning in ancient Greece and Rome. It continues to talk about development from ancient times to the Europe and how it developed through the 1600s to 1800s.
The article also talk about the United States and cities in it are planned throughout the country. Thos will be very helpful because many countries today find the United States to find it as a good model because of how greatly economic developed it is. However these coming years there had been an economic crisis which rises questions if we should even trust the system the have used.
Finally the article ends with modern city planning and what the expect in the future for cities around the world. When many developing countries may become developed or maybe become under developed in the future.
Article 4 Trade and Globalization
In this article it talks about Trade and globalization policies in the US. This will help relate to how economic development had developed in cities throughout the country. Looking through the article I see many rules that are applied through the US Government.
Video 1
In this Videos it discusses a lot of important facts that will be extremely helpful to my presentation. It looks into how economic development is measured around the World.
These Measures include
Long Life expectancy
Low Child MortalityNo PovertyAccess to Clean and Safe drinking waterBasic HealthcareEducationGross Domestic ProductHuman Development Index
It compares countries GDP and other factors to the US like how people live in other countries around the world. They also continued through the video explain the determinants of income and growth.
These Determinants include
Productivity ( The number of good ands services produced by a worker per hour)Investment (Saving rate of Country)Human Capital (Knowledge and experience of people )
Website 1
This Website is great connection to where live, thee is a whole section on the KAUST website dedicated to KAUST’s Economic development. It talks about the Building and what are in the building that makes it developed for people. There is Something called a seed fund which is basically the money that was put in to the project to help make it developed. Finally there is also a FAQs Page which I can take some ideas from.