Sustainable Development: The concept involves balancing present needs without compromising the ability of future generations to meet their own needs. It emphasizes the importance of integrating economic, social, and political factors to achieve long-term growth that is environmentally responsible and socially equitable.
Economic Modernization: Although not explicitly defined in the source, it relates to the process of transforming traditional economies into more advanced, efficient, and productive systems. It involves adopting new technologies, improving infrastructure, and fostering economic growth to enhance competitiveness.
Human Capital Development: This refers to investing in human resources through education, training, and health to improve productivity and foster long-term economic growth. Human capital is essential for sustainable development and technological progress.
Technological Advancement: The process of developing and applying new technologies to increase productivity and competitiveness. Progress in technology drives economic growth and helps societies adapt to changing conditions.
1. Who is credited with formulating the core principles of development as described in the course outline?
2. What is identified as a lasting effect of colonial rule that contributes to underdevelopment in South countries?
3. When were Nigeria's natural resource endowment and strategic geographic location first recognized as key development potentials?
Core Principles of Development
Balance economic, social, political factors.
Causes of South Countries' Underdevelopment
Colonial legacy, instability, dependency, backwardness.
Development potentials in Nigeria
Natural resources, location, youthful population.
Indicators of Underdevelopment
Low income, high unemployment, poor infrastructure.
Solutions to Overcome Underdevelopment
Good governance, diversification, human capital investment.
Economic disparities
Income gaps, unequal access to services.
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