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Social development is economic development

Listed author(s):
  • Birdsall, Nancy

The author makes four main points in this paper: (1) social development, in addition to improving human welfare directly, is an excellent investment. The hard-nosed economic fact is that it contributes to economic growth. Even a narrow interest in growth for growth's sake dictates putting your money into social development programs; (2) however, investing in social development does not guarantee growth all by itself, so those concerned with social progress cannot absent themselves from the larger debate about other aspects of economic policy in their countries; (3) moreover, making social programs work is not simple -- not politically, not technically, and not administratively; (4) still, we know from the experience of some of the poorest countries that it can be done.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 1123.

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Date of creation: 30 Apr 1993
Handle: RePEc:wbk:wbrwps:1123
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