Social Development is Economic Development(2)/ Changyu Jung

It is not enough to invest in human and social development. The nature of the economy is also important. The economic benefits from education may have some sort of limitation. But investing in social programs and making it work is not simple. Since social development has good economic feasibility, it is reasonable to do so. But the government does not put more resources into these high-yield investments. This is because investing in social development means investing in poor people. Another reason is that social programs are not easy to operate efficiently. People in government know that social programs can be run more efficiently, but they are reluctant to put in scarce resources because it is difficult to run them. The author emphasizes the transparency of the use of public funds as a way to resolve this.

What was interesting was an explanation of the countries that quickly achieved social development. These countries were well aware of the need to deliver social programs to the poor, and made great efforts to resolve them. These countries first focused on the possibility of universal access to basic services. Focusing on areas such as education and health care has allowed people to concentrate universally. It also relied on private and community initiatives rather than the centralized public sector. Emphasizing regional initiatives and finance, it focused services on people. By doing so they were able to develop rapidly. However, it is questionable whether such fund management was transparent.

The author says that when investing in social development, social programs are difficult to deliver to the poor. The author emphasizes the transparency of the use of public funds as a solution to this. Will it be possible for social programs to be delivered to the poor just by making them transparent?

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