1887

n Tydskrif vir Geesteswetenskappe - 'n Geïntegreerde benadering tot die armoedevraagstuk met inagneming van ekonomie en kultuur

Volume 44, Issue 2_3
  • ISSN : 0041-4751

Abstract


Economic development is a multidimensional effort which should involve a large variety of spheres. A country has to ensure that the macroeconomic framework is strong and supportive. Investment in human capital is the next important aspect. Economic growth is not possible if the workforce is incompetent and sick. Labour is an important input and the human element deserves special attention. Education is necessary to increase productivity, as higher productivity leads to higher output and profits. Productive workers deserve higher incomes. Investment in human capital lowers poverty, inequality and ensures higher welfare levels. Millions of dollars were spent in Africa during the past decades, but communities are still very poor. If regression analysis is conducted on the data explaining Africa's low economic growth rates the error term is still very high. This implies that a large part of Africa's poor economic performance cannot be explained. This paper suggests that cultural differences were not considered in these regressions. In designing economic development programmes communities' unique cultures and social strata, like suburbs and career groups, should also be considered.

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/content/akgees/44/2_3/EJC19882
2004-06-01
2019-10-15

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