In the economic development studies, social and economic development is the methodology by which a country, community, an area, or even an individual is improved according to predetermined objectives and targets. This is used as a tool in assessing the well being of the community or country and its people. The study also aims to create frameworks, rules, and best practice that would be able to guide people to think and act in the right way.
Development is the underlying theme that is integrated into numerous disciplines such as anthropology, sociology, development, psychology, economics, and law and policy. The Emergent Property theories suggest that people do not just naturally improve their environments; rather, people help themselves by improving themselves through appropriate education, training, and knowledge. With these concepts, developing countries can expect better economic performance and well-being. This is due to the fact that they have a limited ability to produce perishable goods and services, a poor history of warfare, and other impediments. Development programs should be able to help improve the environment, increase income, provide access to capital, support infrastructure, and promote political system. It should also be able to promote development along with economic stability, manage complexity, and minimize risk.
Development should be at the heart of any government’s strategy because it has the ability to bring forth socioeconomic development, political development, and overall security. At the human scale development, the definition of poverty is taken from the definition of the human community or family that is determined by income. The use of development programs should be geared to improve the conditions of those who are at the lowest rungs of the economic ladder. This would then translate to an increase in income, employment, and overall living standards.