JEMTEC

  What is Economic Development? Economic development identifies the quality of life the economic well-being of a country, state or local community.   Other names often used for economic development are Industrialization, Modernization or westernization. One of the most promising definition was given by Prof. Amartya Sen. In his definition he said that Economic development   is all about to create   freedom for people and to remove all obstacles to achieve greater freedom. This Greater freedom enables people to choose their own destiny. Thus economic development is the focus of central, state, and local governments to improve standard of living of the people by creating jobs opportunity, promote innovation, start-ups and new ideas, the creation of higher wealth, in order to create better quality and improving standard of life. Three main areas of economic development are: Governments planning, policies and strategies to achieve big economic objectives ...