FACTORS THAT HINDER OR PROMOTE DEVELOPMENT

DISTRIBUTION OF WEALTH

RESOURCE

• What is Development?

• Development means ''improvement in a country's economic and social conditions''. More specifically, it refers to improvements in ways of managing an area's natural and human resources in order to create wealth and improve people's lives. This definition is based on the more obvious distinctions in living standards between developed and less developed countries.

Factors that Promote or Hinder Development

Development is• Improvement of a countries:

• Economic

• political

• Management of natural and human resources

• Tourism

• Political Ideologies

Factors that Promote or Hinder Development

Factors that Promote or Hinder Development

Concepts of Development

Development – refers to the sustained level of economic and social well being in a country.

Sustainable development – refers to the concept of advancing a people’s quality of life, in terms of economic criteria as well as human dynamics, particularly the conservation and protection of the environment.

Conceptions of Development

• Development as an increasing differentiation

or complexity: is a Conceptualization of development

that states that for anything to develop it must become more

complex and more differentiated- its component parts will

integrate with better and deeper linkages.

Development as an enactment of

Human Values : is a conceptualization that for

anything to develop or become better

improvements has to related to some values that

are being enacted.

Conceptions of Development

When concentrated in the hands of a few, it can lead to low levels of investment, high unemployment, high levels of unskilled labour force (since there will be low expenditure on education. It can also lead to corruption. The result is low productivity among high-income earners, capital flight and brain drain. It leaves government with a high borrowing from international sources, which result I higher taxes and rising inflation

Distribution of Wealth

Resources are materials or other assets that are transformed to produce benefit and in the process may be consumed or made unavailable.

From a human perspective a natural resource is anything obtained from the environment to satisfy human needs and wants.

Resources

Some of the resources in the Caribbean that have provided jobs:

Barrick Gold’s Pueblo Viejo Project in The Dominican Republic which so far has created 4,465 jobs.

cobalt, nickel, iron ore, copper, manganese, salt, timber, silica, and petroleum in Cuba.

Resources

Bauxite Mining in Jamaica : according to the gleaner July 23, 2010 More than 600 people are to get direct employment while hundreds more will benefit indirectly full operation in Ewarton, St Catherine.

Guyana: Natural resources  bauxite, gold, diamonds, hardwood timber, shrimp, fish

Resources

Resources

Absence of mineral; forestry and other resources in most territories.

This has placed some limitation on development strategies and options. Except for Jamaica, Guyana, Trinidad and Belize , a lack of resource prevents production and resources available to all allows for production of the same products, hence difficulty in finding markets.