Measuring Development

• MEDC


  Most economically developed country (e.g. USA, UK)
• LEDC


  Less economically developed country (developing countries such as Mexico or Egypt)
• LLEDC


  Least economically developed country (very poor countries like Bangladesh or Somalia)
• NIC

  Newly-industrialised country (countries that we might think of as developing but that have seen significant industrial growth, such as Brazil or South Africa)
• FCC

  Former communist countries (such as Russia or the Czech Republic)
• FW


  Fourth World (women)
• FFW


  Fifth World (women in the developing world)
• Gross Domestic Product (GDP)


  The most accurate measurement of a nation's development, calculated by aggregating all the money spent, earned or value added in a country in a particular time period
• Gross National Product (GNP/GNI)


  Measures all economic activity relating to companies owned by a particular nation, regardless of which country they are operating in
• GDP is considered the most accurate measurement of a nation's development
• The difference between GDP and GNP/GNI is that GDP relates to all economic activity in a nation, whereas GNP/GNI calculates all economic activity relating to companies owned by a particular nation
• GDP per capita


  GDP divided by the population, to allow for comparison between countries
• GDP per capita can disguise significant inequality within countries
• Not all countries measure GDP the same way, and they report it themselves, rather than it being measured by an independent body, so it is problematic to compare countries in this way
• GDP as a measurement assumes an economy run in the way western liberal economies are run
• Human Development Index (HDI)


  A measure of social well-being that includes life expectancy, education and per capita GNI
• HDI is often "inequality adjusted" where a measure of inequality is used to adjust the rankings
• HDI does not measure aspects of social well-being such as gender equality, peace, happiness and low levels of crime
• Some argue that economic development is needed before social benefits can be achieved
• Millennium Development Goals


  Goals set by the UN for developing countries to achieve by 2015, including eradicating extreme poverty, universal primary education, reducing child mortality, and environmental sustainability
• The Millennium Development Goals were relatively successful, with some targets achieved or nearly achieved, but others falling short
• Sustainable Development Goals


  17 goals set by the UN to replace the Millennium Development Goals, including ending poverty, gender equality, affordable and clean energy, climate action, and peace and justice
• Some criticise the Sustainable Development Goals as being ethnocentric and focused on western notions of development, while others argue that democracy, gender equality etc. should be universal goals