Group Work 1: Learning by Game Play - Brainstorm with Clay

Economic Growth and Economic Development in Comparison

Economic Growth

Economic Growth is defined by the increase of value of goods and services produced from formal economic sector. This just prefers profit to benefit, hence, people consider it as a narrower concept than Economic Development.


Economic Growth can be measured by Gross Domestic Products (GDP) or Gross National Products or Per Capita Income (PCI).



Economic Development

Economic Development considers on humanity aspects of Economic Growth such as poverty, gender equality, social justice, environment, etc.


Economic Development is evaluated by Human Development Index (HDI), gender- related index (GDI), Human poverty index (HPI), and the like.






Challenges to combine economic growth and development together


There is a fact that in many circumstances, economic growth does not mean that it brings real development. In contrast, somehow, economic growth destroys natural environment and damages development achievements by increasing economic distance among social classes or gender inequality.

Therefore, real economic development just occurs when economic growth creates sustainable development.