Chapter 1b - Global Patterns of Economic Development
There are many terms used to refer to a country's or region's level of development. Some have become obsolete and their use can be misrepresentative. The best-known economic development measure is the World Bank's, Gross National Income. This classifies countries into four groups. This measure can also be misleading as it neglects to show inequalities within countries. This is best shown by the Gini Coefficient. text...