What Is Human Development? Human development is branch of study in economics. Its a theory that integrates the social, political and economic approach in social science. Measures individual wealth as apposed to economic development been a measure of wealth. Improves individual choices and enlarges people’s capabilities. Human development covers two aspects:
- Formation of the human capabilities: It helps to build and establish capabilities that provide needs for people. Humans need a favorable environment that brings out the best in them.
- Enlarging of the capabilities: There is need for improvement of the capabilities. For instance after getting a University degree, one needs access to job.
Human is different from other disciplines in social science because, not only is it goal based but also a process. Due to its nature,this results in three important aspects humans need.
- Long and healthy life
- Access to knowledge
- Descent standard of living
- Freedom of choice and participation in national matters.
What is human development index
Human development index, abbreviated as (HDI) is a measure of human development. It comprises of three factors: Long and healthy life, access to knowledge and descent standard of living.
Human development indices:
Measuring of development through the HDI can be done through three (3) indices. (GDI) which stands for gender related development index. This is a measure of gender inequality. Human poverty index (HPI), an aggregate to measure human poverty. And gender empowerment measure (GEM) an indicator of gender participation in social, political and national participation.
(GDI) Gender related development index
- Long and health life
Life expectancy at birth
- Access to knowledge
Adult literacy combined with gross enrollment.
- Descent standards of living
Estimated income per capital (PPP$) in HDI
Earned income per capital (PPP$) in GDI
PPP stands for purchasing power parity: Its a measure of how much a certain currency can buy same number of goods or services in another countries currency.
(HPI) Human poverty index
- Vulnerability to death
Probability of not surviving the age of 40 years
- Lack of access to knowledge
- Lack of access to basic needs:
Percentage of people having access to clean water and underweight babies born.
(GEM) Gender empowerment measure
- Parliamentary empowerment
Percentage of the available parliamentary seats
- Legislative empowerment
Percentage shared in parliament and people with professional jobs and technical workers.
- Economic participation
Income eared per capital
Importance of human development
Human development helps countries to measure individual wealth and come up with an understanding of which part of the economy needs resources. Does not treat people as agents but active participants in the development, compared to other fields like human resources. It covers all aspects of the economy from social economic and political o personal development.
It does not measure personal wealth based on economic development. Because wealthy countries can be in conflict and poor countries with good democracy. Therefore, It makes it easy to measure development and does not raise media suspicion and attention.