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ECONOMIC - Essay Example

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The subject of current paper is the understanding of human development (HD) and economic growth (EG) to analyze the correlation between the needs of the national economic framework with respect to selected economic concern. The primary interest of economist is to understand the…
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ECONOMIC

Download file to see previous pages... s, property, unemployment, crime, money and corruption are leading indicator of measuring the state of macroeconomics in Sierra Leone (Todaro & Stephen, 2009). This paper reflects the relationship between human capital, income inequality and poverty, and how it affects development in context of EG and HD linkages.
Human capital defines the growth rate of nation as evident in the context of Sierra Leone’s economic growth. The absence of subsequent investment in human capital and low level of investment in physical capital affect the rates of return in form human capital, especially education (Todaro & Stephen, 2009). If human and physical capitals mutually affect each other, then the policy problem enables both to increase rapidly. Acute shortages of medicine, skilled healthcare professional, robust power system, hygienic water and such basic amenities as sterilized gloves; Sierra Leone finds the adequate strategy to resolve the health issues of inhabitants. The poor health and education of Sierra Leone’s workers explains low income of the citizen as statistics of pregnancy death showing one in every eight cases in comparison to the United States figure of one in 4,800 and life expectancy of 41 years in not welcome figure (Scott Craft). The coverage of health services remains cause of concern. Transportation difficulties to avail public services increases the opportunity cost. Cultural barriers further add the woes in accessing health services, especially for women, the lower class, and other vulnerable groups. Infrastructure development and government policies for basic health services will pay substantial dividends as better health will contribute to growth of Sierra Leone. The country depends on the sixty percent of its public expenditure from foreign governments and nonprofit organizations approximately exceeding the figure of $1 billion in aid (Scott Craft). The complex relationship between human capital and economic development needs optimistic approach ...Download file to see next pagesRead More
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