Full Length Essay on Real Development should transform people’s lives, not just economic statistics

   The global economy has touched the height of $87.8 trillion, however, extreme poverty is bottom lined with 1.89 billion people and nearly 36% of the world’s population lives under extreme poverty. This depicts that economic statistics are mere numbers and not a source of real development. There is no denying fact that a strong economy plays a vital role in taking the country to the height of glory yet real and sustainable development cannot be achieved if people’s lives are not changed in upward social mobility. This can be well understood from the example of countries whose GDP lies on the top of the list while in human development they are bottom lived. So, what are the essential indicators of real development? Why mere development in economic statistics cannot be gauged as real development? And how real development transforms people’s lives? This essay will dwell upon these questions in detail. Development is an improvement in the living standards of people. Thus, only economic statistics cannot show the upward graph of real development. Rule of law, gender equality, and equitable access to education are some indicators of real development. Nordic countries have followed these indicators and are listed at the top in terms of real development. Although economic indicators of development summarize a country’s overall economic performance, they fail to capture the real picture of people’s well-being. Real development is people-centric human development which not only enlarges people’s freedom and opportunities on an equitable basis but also brings about a meaningful change in their everyday lives.

  Development, from an abstract to a concrete form, is an improvement in the living standards and lifestyles of a people of an area. Some statisticians believe that development is an economic phenomenon while others opine that it revolves around the physical geography of an area. Development, when imagined, is based on statistics and scorecards. But, in reality, development not only transforms people’s lives but also affects their living standards and lifestyles and, thus, real development exclusively ensures opportunities, equality, and prosperity. Moreover, UNDP defines development as a process that improves the social, political, and economic well-being of common people by producing real-life consequences.

   While considering economic indicators an accurate measures of development. Following indicators are considered for economic well-being of a nation. First, GDP which measures the market value of all final goods and services produced in a period of time. Second, Stock Market Index which measures the performance of stock market. Third, Foreign Exchange Reserves which measure the assets of a country in foreign currency by central bank. Last, National Debt which measures the capacity of the economy to support.

   On the contrary, the real development is based on following indicators. First, rule of law which implies that every person is subject to the law, including people who are lawmakers, law enforcement officials and judges. Second, gender equality which provides equal access to resources and opportunities regardless of gender. Thus, it empowers women to take actively participate in all spheres of lives. Third, responsive and efficient criminal justice system which guarantees the right of equality of all individual before the law. Fourth, progressive taxation which helps to narrow the gap between rich and poor. Fifth, equitable access to quality education and healthcare system which refers that every student in any classroom and every patient in any hospital treated equally.

   Sixth, political freedom is the ability of a nation’s citizen to participate in the political process. Last, protection of minority rights which provides development of nation evenly among all cultures, races and religions. Thus, these essential indicators depict the picture of real development which focuses on human well-being and not just economic surge.

   An improvement in economic statistics does not necessarily lead to real development. This is so because the world’s richest 1% have more than twice as much wealth as 6.9 billion people. Moreover, almost half of humanity is living on less than $5.50 a day. Thus, economic statistics only represent the overall wealth. However, in real, only few possess extreme wealth and many are just one hospital bill away. This shows that economic statistics is not enough for real development.

   There are number of case studies of countries with inflated conventional economic statistics but poor condition of real development. These include UAE, KSA and India. United Arab Emirates (UAE) has high GDP however, it is poor in providing equal gender right. UAE is the 2nd highest GDP in Middle East but ranks 72nd in Gender Development Index. Moreover, Saudi Arabia has highest GDP but very limited political openness, KSA is the 19th highest GDP in the world but 159th in Political Freedom Index. Further, India is the member of G-20 with 6th highest GDP in the world, however, the condition of human rights are deteriorating. In HDI, it ranks 130th, in GDI 127th and 60th in rule of law Index. Thus, this shows economic well-being does not guarantee human well-being.

   The fact that real development indicators transform people’s lives can be gauged from this that rule of law ensures equal rights. A country where rich and poor are treated equally, where it is not necessary that one is law-maker or law-abider, he is punished for his acts. Moreover, gender equality increases participation of women in all spheres of life. Men own 50% of the world’s wealth than women, and the 22 richest men have more wealth than all women in Africa. Additionally, the unpaid work done by women is estimated $10.8 trillion year – three times the size of tech industry. It is also estimated that women work more hours than men yet earn little than men. Thus, gender parity will give equal opportunity to women to prove their role in the real development of a nation.

   Moreover, equitable access to education, healthcare and employment produces opportunities for upward mobility. Further, responsive and efficient criminal justice system protects fundamental rights of public and political freedom develops responsive political institutions. This shows that real development lies in the development of human development and not mere economic statistics.

   There are some modern indicators to measure real development. These indicator include HDI of UNDP, Rule of law of WJP, GDI of EU, PFI of FW and HHI of UNESCO. The Human Development Index is a statistics composite index of life expectancy, education and capita income indicators, which are used to rank countries into four tiers of human development. The Rule of Law index of World Justice Project measures countries rule of law performance across eight factors: Constraints on Government Powers, Absence of Corruption, Open Government, Fundamental Rights, Order and Security, Regulatory Enforcement, Civil Justice and Criminal Justice.

   The Gender Development Index measures the gender gap in human development achievements by accounting for disparities between women and men in 3 basic dimensions of human development: a long and healthy life, knowledge, and a decent standard of living. The ratio is calculated as female HDI to male HDI. Political Freedom Index of Freedom World measures the degree of civil liberties and political rights in every nation. Human Happiness Index of UNESCO measures satisfaction with life and the condition of life. Thus, countries who top these index are the places of real development where life of people costs is higher than mere focusing on economic statistics.

   Nordic countries are the living example of real development. In World Happiness Index, Finland ranks 1st, Sweden 2nd and Switzerland 3rd. Likewise, in Rule of Law Index, Denmark, Norway and Sweden ranks 1st, 2nd, and 3rd position respectively. In terms of lowest poverty rates in the world, again Nordic countries like Iceland, Denmark, Finland bet the ground with 5.7%, 6% and 7.5% respectively. Moreover, in the highest ranking for protecting workers’ rights on ILU’s Global Rights Index, Denmark ranks 1st. This depicts that focusing on human development is the real development and economic statistics are numbers.

   In order to accelerate the process of real development, it is necessary to prioritize welfare centric human development program. These program would uplift the downtrodden people which in turn will certainly help in maximizing economy of countries. Additionally, policies to eradicate poverty and unemployment will be a plus point in the real development. When the public will gain the fundamental rights without any worry then there focus will change towards the improvement of nation. As hungry man cannot focus on anything else but securing his next meal.

   Policies of progressive taxation would curtail the inequality among rich and poor. Progressive tax helps backward people to live happy life. Thus, it would accelerate the process of human development. Additionally, institutional and policy reforms regarding empowerment of women and access of justice for common people are some other factors which can accelerate the process of real development.

   In a nutshell, real development improves the democratic and economic well-being of all the people in the society instead of just inflating economic statistics. This can be well understood from countries like Saudi Arabia, UAE and India that are working in gaining the grounds of highest GDPs of the work yet when there human development index is measured, they fail to prove their success. On the contrary, Nordic countries focus on real development indicators like rule of law, gender equality and eradication of poverty. Thus, they are successful in changing and transforming people’s lives and are the real champions of development. In order to accelerate the process of real development, it is necessary to work for the betterment of human development, eradicating poverty and providing equal opportunities to all people regardless of race, gender and colour. As Sathya Sai Baba has rightly said that the development of the society, the state and the nation is proportionate to the development of the Human.