Economic development, as a public sector term, is the process by which the economic well-being and quality of life of a nation, region or local community are improved according to targeted goals and objectives. The term has been used in the 20th and 21st centuries, but the concept has existed in the West for centuries. "Modernization", "Westernization", "industrialization" are other terms used while discussing economic development. Whereas economic development is a policy intervention endeavor aiming to improve the well-being of people, economic growth is a phenomenon of market productivity and rise in GDP; as economist Amartya Sen points out, "economic growth is one aspect of the process of economic development". But what do practitioners say about this term? Economists study the broader economy or the commercial economy, they do not study the practice of economic development as carried out by practitioners such as those in the Community Economic Development field, who focus on socio-economic development as well.
The precise definition of economic development has been contested: while economists in the 20th century viewed development in terms of economic growth, sociologists instead emphasized broader processes of change and modernization. Development and urban studies scholar Karl Seidman summarizes economic development as "a process of creating and utilizing physical, human and social assets to generate improved and broadly shared economic well-being and quality of life for a community or region". Daphne Greenwood and Richard Holt distinguish economic development from economic growth on the basis that economic development is a "broadly based and sustainable increase in the overall standard of living for individuals within a community", measures of growth such as per capita income do not correlate with improvements in quality of life. Economic development has qualitative dimensions. Economic development implies economic growth plus progressive changes in certain important variables which determine well-being of the people,e.g: health, education.
The University of Iowa's Center for International Finance and Development states that:'Economic development' is a term that practitioners, economists and others have used in the 20th century. The concept, has been in existence in the West for centuries. Modernization and Industrialisation are other terms people have used while discussing economic development. Economic development has a direct relationship with the environment. Though the concept's origin is uncertain, some scholars argue that development is bound up with the evolution of capitalism and the demise of feudalism. Others link it to the postcolonial state. Mansell and Wehn state that economic development has been understood by non-practitioners since the World War II to involve economic growth, namely the increases in per capita income, the attainment of a standard of living equivalent to that of industrialized countries. Economic development can be considered as a static theory that documents the state of an economy at a certain time.
According to Schumpeter and Backhaus, the changes in this equilibrium state to document in economic theory can only be caused by intervening factors coming from the outside. Economic development originated in the post-war period of reconstruction initiated by the United States. In 1949, during his inaugural speech, President Harry Truman identified the development of undeveloped areas as a priority for the west: “More than half the people of the world are living in conditions approaching misery, their food is inadequate, they are victims of disease. Their economic life is stagnant, their poverty is a threat both to them and to more prosperous areas. For the first time in history humanity possesses the knowledge and the skill to relieve the suffering from these people... I believe that we should make available to peace-loving peoples the benefits of our store of technical knowledge in order to help them the realize their aspirations for a better life… What we envisage is a program of development based on the concepts of democratic fair dealing...
Greater production is the key to peace. And the key to greater production is a wider and more vigorous application of modem scientific and technical knowledge."There have been several major phases of development theory since 1945. Alexander Gerschenkron argued that the less developed the country is at the outset of economic development, the more certain conditions are to occur. Hence, all countries do not progress similarly. From the 1940s to the 1960s the state played a large role in promoting industrialization in developing countries, following the idea of modernization theory; this period was followed by a brief period of basic needs development focusing on human capital development and redistribution in the 1970s. Neoliberalism emerged in the 1980s pushing an agenda of free trade and removal of import substitution industrialization policies. In economics, the study of economic development was borne out of an extension to traditional economics that focused on national product, or the aggregate output of goods and services.
Economic development was concerned with the expansion of people's entitlements and their corresponding capabilities, nourishment, literacy and other socio-economic indicators. Borne out of the backdrop of Keynesian economics, neoclassical economics, with the rise of high-growth countries and planned governments, econ
Glyptostrobus europaeus is an extinct conifer species of the family Cupressaceae, found as fossils throughout the Northern Hemisphere. The sole living species of Glyptostrobus was described from China in 1926; the name of the genus comes from the Greek "glypto" meaning grooved or carved, "strobilus" meaning cone. The species name "europaeus" refers to the fact. Fossilized remains of Glyptostrobus were first described as Taxodium europaeus by Adolphe-Théodore Brongniart in 1833 and reassigned to the genus Glyptostrobus by Oswald Heer in 1855; the division of fossil members of the genus into a number of other species is considered by some to rest on "very unreliable criteria". In fact, it has been stated that fossil Glyptostrobus does not appear to differ from the living species and "it is possible that the tree now on the verge of extinction in China is the Tertiary species unchanged". Like living Glyptostrobus, G. europaeus shed its branchlets seasonally. It bears leaves three types of leaves, cupressoid and taxodioid, as well as two transitional types.
All are spirally arranged. The seed-bearing cones are pyriform and 10 mm wide, they consist of woody imbricate scales that are triangular in shape, are borne terminally on short twigs with scale-like leaves. The seeds are up to 13 mm long and 7 mm wide and triangular to hatchet-shaped; the pollen-bearing cones are up to 3 mm long and 3 mm wide. They consist of acute-tipped, imbricate scales and are borne on short, alternately arranged twigs with scale-like leaves. Remains of Glyptostrobus are found in sediments of Early Cretaceous to Pleistocene age in Europe, North America and Asia. Throughout the Tertiary period Glyptostrobus was a major component of northern forests in lowland and swampy areas, where in many places it coexisted with Metasequoia occidentalis
The Coral Springs Covered Bridge is a 40 ft covered bridge located in Coral Springs and was the first permanent structure built in the city. The only publicly accessible covered bridge in Florida, it has been honored with a Florida Heritage Site Marker, it was designed by George Hodapp and constructed in early 1964 by Lewie Mullins, George Porter, all Coral Ridge Properties employees. The 40-foot bridge has a single steel span that crosses N. W. 95th Avenue just south of Wiles Road. Its roof is covered with shingles. Painted barn red, James S. Hunt, president of Coral Ridge Properties, wanted to convey a sense of the Old South on the otherwise barren landscape. Hunt's vision for Coral Springs was of a planned "City in the Country" with brick colonial-style public buildings, boulevards planted with flowers and the Covered Bridge as its centerpiece. James S. Hunt contacted the American Snuff Company in Winston-Salem, North Carolina, for chewing tobacco designs to make the bridge appear more "seasoned".
The company supplied two designs plus an artist to paint the murals. The Bull of the Woods logo on the east side of the bridge was first used in 1876; the Peach Snuff logo on the west side was created in 1950 to appeal to a broader female audience. When the eye wall of Hurricane Cleo passed over Coral Springs in August 1964, the bridge was left undamaged. In October 2005, Hurricane Wilma passed over the city, again the structure sustained little damage. Over the years, the bridge and murals have been restored but are visibly abstruse as trees, have grown along the sides of the road and canal; the bridge has the distinction of a Florida Heritage Site Marker in recognition of its architecture and historical significance to the state. The Covered Bridge is depicted in Coral Springs' previous city seal.