The So-called Social Aspects of Economic Development
If it is granted that economic development is not an end in itself but a means to better human relations and well-being, then economic progress must be judged by its social results. Economic development cannot be considered a simple accumulation of productive capacity, nor can the standards of living of a population be measured in terms of steel ingots produced or electric power installed. However, social gains deriving from economic development are difficult to appraise accurately, for several reasons: First, there is no established pattern by which to evaluate them; then, economic development may bring social losses as well as gains; furthermore, by its very nature, development may result in long-term benefits which only become apparent after a period of relative sacrifice; finally, the concept of social progress, of the individual’s personal welfare and his relation to society, varies according to ideological and philosophical beliefs.
KeywordsSugar Europe Income Assimilation Peru
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