In the economic research of the social sector, social and economic development is the procedure by which a country, region, community, or an individual’s quality of life are improved based on specific objectives and targets. The objectives could be related to educational attainment, health and wellness, employment, poverty, housing, communities and policies. Development in these sectors affect the life of everyone who lives in that area. The societal well-being could be improved through programs such as economic growth and social inclusion.
One of the most popular current discussions in economics and politics is that of sustainable development. The debate revolves around the idea of long-term investment that is needed to increase living standards for the current and future generations. However, sustainable development is not viewed as a finite process. Rather, it is determined by future governments and international organizations as well as nongovernmental organizations, as regards what can be considered sustainable development. An important part of sustainable development is economic growth, because without an adequate economy, no amount of social development can take place.
Development theories are complex and often involve numerous issues including economic development, environment, policies, and systems engineering. A theory is not a plan, and theories and concepts often need to evolve through a number of processes and inputs to ensure their effectiveness and relevance in today’s complex and uncertain global environment. These include research, collection, analysis, synthesis, and discussion of relevant facts and practices. The development of concepts, then, is an important step towards the creation of solutions that enhance sustainability and livability for human civilizations and societies. This includes systematic reviews of development processes and practices, such as policies, institutions, technology, and decision making processes.