How Geographers Look At Economic and Social Development
One of the most amazing things that modern society offers is the convenience of goods. Goods were not always this easy to come by. As a matter of fact, before the industrial revolution if you wanted a new winter jacket you had to make it yourself. That is why it is important to know how economic and social development works and how it is measured since it influences the quality of life for people who are subject to it. Geographers correlate economic and social development to the production of services, concentration of global cities, and concentration of assets from other countries.
It is interesting to see how the percentage of GDP from services plays into determining whether a country is economically and socially developed. Countries like Japan, USA, Australia, Great Britain, etc. are by most people’s standards very economically and socially developed. One thing they have in common is that 70% of their GDP comes from services (Rubenstein, 431). It is safe to say that countries with economies derived mostly from services are more economically and socially developed.
Another characteristic that many developed countries share is that they either have global cities within them or are near a large concentration of global cities. It is interesting to note that the highest concentration of global cities is in Western Europe (21stcentech.com). Western Europe happens to be one of the most highly developed regions in the world. Investors and businesses are attracted to such a region because they have to do business there in order to successfully compete with each other. The amount of money that comes with the onslaught of investors and businesses pouring into the region in return adds to the development of that country when the money that is being made gets taxed.
A lot of countries that aren’t very socially and economically developed seem to attract a lot of investors looking to launder their money and get away with paying significantly less taxes. Offshore financial centers such as the islands of Montserrat, Mauritius, Seychelles, and others are countries that are almost entirely dependent on those kinds of foreign investors (Rubenstein, 444). If those countries developed higher taxes and stricter banking laws, there economies would completely collapse.
Social and Economic development of countries are comprised of a multitude of factors very often unique to each other. It is important to understand what makes up those factors to better understand any country.
Rubenstein, James M. The Cultural Landscape: An Introduction to Human Geography. Upper _____Saddle River, NJ: Pearson/Prentice Hall, 2005. Print.
Edited by: Kyra, Ellie and Jacob