Social Development is Economic Development Part II

Investing in social development is important but it doesn't guarantee economic development. Making progress is a complicated process. "Why don't governments put more resources into these high-return investments? If there is no tradeoff between social programs and economic growth, why in some settings are social programs bereft of resources?: The text suggests some answers to this topic. Tries to answer what should be done to make progress in social development and economic development. Debates also on the situation of the poor countries. The development is not only desirable but possible and for example, South Korea, Costa Rica, Indonesia, Sri Lanka, China are examples of that. THere's a thing in common among those countries: focused on universal access to basic services like education, health, family planning, they also relied on private initiatives rather than on centrally planned actions. The article describes also a role of the World Bank in the Social Development precedence Lening for Social Development projects covering a full range of fields.
It is hard to indicate where the money should be put to give the best results in rising the social development or maybe more human welfare. The authors say that while thinking where to invest so the money can bring the biggest benefits, investment in people, inhuman and social development is the most recommended. Because those have the highest economic returns of spending considering long-term economic development.

They also show some cost comparison that I found really interesting and honestly quite shocking: $3 billion a year to educate enough girls in developing countries to make female enrollment as high as male enrollment and that was LESS 0.25% of GDP of developing countries. While for example for power plants they would spend $1trilion dollars.

Looking at the scale, do you think further investments in human resources are possible? Why countries do not decide on those investments?

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