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The concept of human development expands upon the notion of economic development to include social, political and even ethical dimensions.Since the mid-twentieth century, international organisations such as the United Nations and the World Bank have adopted human development as a holistic approach to evaluating a country’s progress that considers living conditions, social relations ...
Human economic decision making is often reference dependent, in which options are weighed in reference to the status quo rather than absolute gains and losses. Humans are also loss averse, fearing loss rather than seeking gain. [51] Advanced economic behavior developed in humans after the Neolithic Revolution and the development of agriculture.
David Gal has argued that many of these issues stem from behavioral economics being too concerned with understanding how behavior deviates from standard economic models rather than with understanding why people behave the way they do. Understanding why behavior occurs is necessary for the creation of generalizable knowledge, the goal of science ...
David Korten claims that people-centered development is the only way to develop sustainable communities. [6] He criticized the common development practice of increased economic output through natural resource depletion. [6] Korten also advocates sustainability in the financing of development projects and the relationships of external assistance.
Rational choice theory can be viewed in different contexts. At an individual level, the theory suggests that the agent will decide on the action (or outcome) they most prefer. If the actions (or outcomes) are evaluated in terms of costs and benefits, the choice with the maximum net benefit will be chosen by the rational individual.
Since its publication in 1979, Bronfenbrenner's major statement of this theory, The Ecology of Human Development, [25] has had widespread influence on the way psychologists and others approach the study of human beings and their environments. As a result of this conceptualization of development, these environments—from the family to economic ...
Social responsibility from businesses such as providing recycling bins can in turn provide opportunities for people to be socially responsible by recycling. Social responsibility is an ethical concept in which a person works and cooperates with other people and organizations for the benefit of the community.
Sustainable development is an approach to growth and human development that aims to meet the needs of the present without compromising the ability of future generations to meet their own needs. [ 1 ] [ 2 ] The aim is to have a society where living conditions and resources meet human needs without undermining planetary integrity .