Global Development Metrics and Inequality Factors
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Measuring Global Development and Inequality
Inequalities can be measured in many ways because development is not only about money. The traditional way to measure development is wealth, usually through the Gross Domestic Product (GDP) and GDP per capita. These indicators show how much a country produces and how rich it is on average, but they do not show how wealth is distributed or what the quality of life is like.
For this reason, welfare is also considered. Welfare refers to overall well-being and includes:
- Housing and safety
- Social services
- Access to culture
- General living conditions
Contemporary Development Indicators
To understand development more accurately, contemporary indicators are used. One of the most important is the Human Development
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