Overview of Economic Growth and Development in South Korea Term Paper

Overview of Economic Growth and Development in South Korea - Term Paper Example Todaro & Smith (2014) highlight the traditional tools for measuring development in economic terms such as accomplishing constant growth rate of income per capita to support a country to increase its output at a higher rate than its population growth rate. Gross National Income (GNI), inflation and Purchasing Power Parity are some of the aspects used to measure the economic health of a country’s population. Gross National Product (GDP) is widely used as an indicator of economic development and depicts increased production. It is used as a measure of economic development in South Korea, which reached a high of $1.6 trillion with a GDP growth rate of 2% and $32,272 per capita income in the 2014 fiscal year. While applying GDP as a measure of economic development, it is assumed that increased production creates the need for labor thereby creating employment opportunities hence raising individual incomes, which results in enhanced well-being. It does not necessarily mean that the c oncerns of poverty, inequity, joblessness and income distribution have been addressed. Instead of only focusing on the market value of economic activity, it is important to measure the levels at which social goals are accomplished, for example, whether the society is able to sustainably access basic human needs. GDP encompasses all goods and services irrespective of their contribution if any, to sincere developments in a country’s population, or whether such outlays were focused on moderating the loss resulting from a growing economy.

Self Introduction Personal Statement Example | Topics and Well Written Essays - 750 words

Self Introduction - Personal Statement Example I strongly understand that every human being deserves a right to be happy and I consider it my personal initiative to guarantee this to every person. I am a strong believer of social justice and I know for certain that every human being should be considered equal. I do not hesitate to do all that I can to ensure that justice prevails in the society particularly for the weak. The desperate and the destitute members of the society are held close to my heart of hearts and I believe they also have reasons to live. Since I was a child, I have always felt pain when I see others suffer. I have realized that I cannot be happy when others are sad and I have believed that the only way to be happy is making other happy. Humility is the driving force towards my good relationship with people, my teachers, friends and family members. However, I am also very assertive especially when my conscience propels me to doing what I fundamentally believe is right. I have no reservation for the course of jus tice and truth. And am always willing to go an extra mile in ensuring that what my conscience considers right is done. I have no apologies at all for doing the right thing. This has sometimes seen a few friends break up with me. However, I lack ability to hold grudges; there is no hate in my heart. Even as they run away from me, I continue treating them with humility and love. With time, they come to realize that after all, I meant no harm. This has made many close friends cling to me amid many challenges. In the field of business, I am very entrepreneurial, inventive and innovative. I have contributed significantly to the growth of my mother’s small shop in town. With the ideas that I constantly give her, she has been able to expand the shop and today it is her main source of livelihood. I particularly imparted into her the idea of taking risks, however I warned her not to take very huge risks are the consequences might sometimes be too great to contemplate. Modesty and humi lity are some of the key attributes that mother has learnt from me. She uses these virtues to relate well to her customers who are mostly low and medium income earners. She constantly tells me that she did not believe she could learn from her son. After all she was supposed to be my role model and I was to learn from her. I have a wide experience in writing. I write articles and poems. Sometimes when I have nothing else to do, I find myself with a pen and a piece of paper. At one point I wrote what went down as a masterpiece article on justice and truth. Then, I was still very young and everybody wondered where I got the ability and the knowledge to write such an impeccable piece. It also goes without saying that I love reading a lot. I read biographies, novels, articles on the social world, psychology, philosophy, religion – comparative religion, Hindu, Islam, Christianity. I have an insatiable thirst for knowledge. I always want to know more. My contributions to the social well being of the society are very immense. Through the articles I have been able to write, people have been enlightened on the importance of justice and truth. I have particularly played a very fundamental role in ensuring that I inform my readers on the value of truth and justice. I have had reservations for dirty, racial and ethnic politics. I believe the most fundamental thing in politics is to judge individuals not on the basis of the depth of their