Why is economic development uneven?

Conceptual understandings

• Perceptions of the meanings of development and equity change over time and vary across cultures.

• Governments and other economic agents may intervene in an attempt to promote economic well- being and equity in societies.

• The pursuit of sustainability is subject to various constraints.

• Effective strategies should take account of the relevant social, economic, and political context.

Poverty Traps / Poverty Cycles

Economic Barriers

Political and Social Barriers

Task: Hernando DeSoto & Barriers to Economic Development