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Labor and Employment in the Philippines

Labor and Employment in the Philippines. Is economic growth equivalent to economic development?. Economic Development. Going beyond economic growth. At the end of the lesson, students should be able to…. d ifferentiate economic development from economic growth ;

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Labor and Employment in the Philippines

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  1. Labor and Employment in the Philippines

  2. Is economic growth equivalent to economic development?

  3. Economic Development Going beyond economic growth

  4. At the end of the lesson, students should be able to… • differentiate economic development from economic growth; • interpret and analyze measures of economic development; • assess the level of economic development in the country.

  5. What is economic development?

  6. Linear Stages TheoryWalt Rostow Development follows a series of stages of growth. The economy transitions from agrarian to advanced industrial state.

  7. Three Core ValuesMichael Todaro “Development is the sustained elevation of an entire society and social system toward a better or more humane life.”

  8. Economic development Annual increase in GDP/GNP of 7% or more Improvement in per capita GNP

  9. Economic development Decrease in the share of agriculture to GDP/GNP and employment

  10. Economic development Improvement in the quality of life (Human Development Index)

  11. Economic development Reduction /eradication of: poverty injustice unemployment

  12. Measuring Development DEVELOPING Low income (Less than $635) Lower-Middle income ($ 636-2,555) Upper-Middle Income ($ 2,556-7,910) DEVELOPED • Annual per capita GNP of $7,911

  13. Indicators of Economic Development Human Development Index Millennium Development Goals Index of Happiness

  14. Human Development Index Over-all assessment of human well-being based on health education income

  15. HDI COMPONENTS Literacy rate Enrolment rate EDUCATION HEALTH INCOME • Life expectancy • Poverty rate • Per capita GNP HDI = (I1 + I2 + I3) / 3

  16. How to read the HDI (2012): Source: http://hdrstats.undp.org/en/indicators/103106.html

  17. Millennium Development Goals

  18. Millennium Development Goals

  19. Index of Happiness Source: http://www.happyplanetindex.org/

  20. Index of Happiness Experienced well-being Life expectancy Ecological footprint

  21. HPI = Experienced well-being * Life expectancy Ecological footprint

  22. Comparison of top-ranked countries HAPPY PLANET INDEX Costa Rica Vietnam Jamaica Belize Indonesia El Salvador Colombia Bangladesh Panama Cuba HUMAN DEVELOPMENT INDEX • Norway • Australia • United States • Netherlands • Germany • New Zealand • Ireland • Sweden • Switzerland • Japan

  23. How would you assess economic development in the Philippines?

  24. “The greatest discovery of my generation is that human beings can alter their lives by altering the attitudes of mind.”-William James, 1842-1910

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