9781422285459

Chapter one

Economic Development

At the United Nations Millennium Summit in September 2000,world leaders agreed to a new set of global development goals. Designed to combat poverty, hunger, disease, illiteracy, environmental damage, and discrimination against women, these Millennium Development Goals address not only human development but provide a framework for the UN’s economic development efforts.With a target date of 2015,the eight Millennium Development Goals were designed to be both measurable and achievable. They are listed below. Wo r d s t o U n d e r s ta n d capital : material wealth in the form of money or property. collateral : property or goods used as security against a loan and forfeited if the loan is not repaid. desertification : process by which land becomes increasingly dry. entrepreneurs : people who set up and finance new businesses to make a profit. infrastructure : large-scale public systems, services, and facilities of a country or region that are necessary for economic activity.

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Chapter One