Advantages And Limitations Of Economic Development

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Register to read the introduction… Economic development alone is not the answer to the problems of present times and hence the need of measurement beyond growth is the need of the time. The MDG approach which is inclusive and geared towards addressing the basic need and fundamental rights is pro poor and is aimed at empowering with economic power but also improving their living standards.
Limitations of MDGs
The success of the MDGs across the globe was mixed. While the progress across East Asia and South Asia was remarkable, the Sub Saharan Africa was lagging behind with extreme poverty and very high rate of child and maternal mortality and as such, the Sub Saharan African countries failed to achieve most of the goals (Sachs & McArthur 2005).
The flaw of the MDG framework was that it lacked consultation at the conception to build ownership; it excluded important issues like peace, security, governance and human right. It lacked information on the issues for environmental sustainability, employment and inequality; while it did have targets for poverty reduction but it lacked clarity on addressing the root cause of poverty and other development challenges (UN System Task Team

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