Economic Development Essay Example | Topics and Well Written Essays - 3500 words

Economic Development - Essay ExampleTherefore, in most maturation countries, a wide gap can be seen between the rich and the poor unlike that in the unquestionable nations. This gap widens more as long as country-style using is ignored by economists and politicians. exactly there is a sudden neuter being experienced in the approach of economists and intellectuals. Those who have just ignored the rural development in the past are now propagating for its development. Next sections of the essay provide analyze the reasons behind ignoring rural development and the sudden change of approach. Reasons for Change of Approach Rural development main(prenominal)ly refers to the role of agriculture for the development of the nation. Agriculture constitutes the main source of employment of the majority of the homos poor. In total, the percentage of agriculture in total employment in exploitation countries constitutes 53% of the total workforce in 2004. In Sub-Saharan Africa 60% of the economically active state work in the agricultural sector. (Meijerink & Roza, 2007). This shows that agriculture or rural sector is the back bone of many developing economies. But the increased importance given to the industrialization opened up many industries and reduced the share of agriculture to the overall economic issue. Agriculture gradually became less attractive for the economies. This made the economists and intellectuals to reduce the localise on rural disciplines. But now economists and governments are seemed to be increasing their focus on rural development especially in developing countries. Some of the disadvantage of urbanization and industrialization helped them for this late realization. The main agentive roles that lead to the change of approach are as follows 1. Poverty 2. Unbalanced growth 3. Food security measure 4. Lack of Infrastructure 5. Rural Marketing Poverty Increased poverty in the rural area is the main reasons for this change of approach. Pov erty is seen as a drawback for the development of a nation. Overall development of an delivery is not possible if there is a considerable percentage of poor among the population. Eradicating poverty became the major schedule of many countries. While looking back to the 19th century, economists realized that irrespective of the size of the nation, the sole factor that drove the economy was agriculture. But somewhere with the advent of technologies, countries reduced the focus on agriculture. This is one of the reasons that helped the economists to change their mind. Unbalanced Growth In most developing countries, there is a wide gap between rich and the poor. Though such countries are recording tremendous economic progress, it could not be categorized as a developed nation when there is an unbalanced growth in the economy. Majority of the population should experience more or less similar growth and living conditions for a balanced growth in the economy. Food Security Another major reason for the change of approach of the economists is food security. At its June 2003 summit, the G8 group of countries recognized the need to increase investment in rural and agricultural development to get lasting food security. It pledged to reverse the decline in ODA for agriculture and to increase trade opportunities for developing countries. (Bage, 2004) Food security is now a cause of concern for many countries. As a take of this, countries are increasing their respective funding to the agriculture sector in order to