Whats the Point of a Development Strategy?

Abstract

Standard indicators of economic success leave out many aspects of development that are crucial to the well-being and freedom of citizens. We have to examine critically the ends as well as the means involved in development strategies. The impact of public education, health care, social security, etc. have to be seen both in terms of their direct effects on human capabilities and their indirect consequences on people's lives through raising productivity and earning powers, and through helping to reduce the burden, especially on young women, of high fertility. The two aspects have to be considered together.

JEL Classification: 010, D60