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Education enables countries to adapt the latest technology and creates an environment for new innovations. The cause of limited growth and divergence in economic growth lies in the high rate of acceleration of technological change by a small number of developed countries.
It is defined as education practices that encourage changes in knowledge, skills, values, and attitudes to enable a more sustainable and just society for humanity. ESD aims to empower and equip current and future generations to meet their needs using a balanced and integrated approach to sustainable development's economic, social, and ...
Transformation is a unidirectional and irreversible change in dominant human economic activity (economic sector). Such change is driven by slower or faster continuous improvement in sector productivity growth rate. Productivity growth itself is fueled by advances in technology, inflow of useful innovations, accumulated practical knowledge and ...
[6] [7] Economic development can also be considered as a static theory that documents the state of an economy at a certain place. According to Schumpeter and Backhaus (2003), the changes in this equilibrium state documented in economic theory can only be caused by intervening factors coming from the outside. [8]
In economics, economic transformation refers to the continuous process of (1) moving labour and other resources from lower- to higher-productivity sectors (structural change [1]) and (2) raising within-sector productivity growth. [2] As such, economic transformation emphasises the movement from low- to high-productivity activities within and ...
In some ways, his victory marked a repudiation of President Joe Biden’s economic stewardship and a protest against inflation. It came despite low unemployment and steady growth under the Biden ...
Dramatic changes in the rate of economic growth have occurred in the past because of some technological advancement. Based on population growth, the economy doubled every 250,000 years from the Paleolithic era until the Neolithic Revolution. The new agricultural economy doubled every 900 years, a remarkable increase.
Social development theory attempts to explain qualitative changes in the structure and framework of society, that help the society to better realize aims and objectives.. Development can be defined in a manner applicable to all societies at all historical periods as an upward ascending movement featuring greater levels of energy, efficiency, quality, productivity, complexity, comprehension ...