Abstract
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Andre Philip van der Merwe
Faculty of Economic and Management Sciences,
Rand Afrikaans University, South Africa
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Development has no formally accepted definition in literature as most authors
only give an opinion and do not deliver any concrete understanding
of what is meant by the development of society. The United Nations
in various programmes on social development use economic growth
as well as a number of other different measures to test for social
and economic development.
Theories of what causes economic growth abound, partly to analyse
economic development of the wealthy vs. the poor and partly to stimulate
economic growth in poor countries. Economics teaches that the standard
of living is improved for all when wealth is created. Supply and
demand determine price and when more is paid for consumption than
for production, wealth is created. The economy grows only when the
total volume of production increases or when the efficiency of production
improves.
Efficiencies can be improved through education, but improvement
in technology directly competes with the employment of people. As
people are replaced by machines they lose the ability to earn money,
and to purchase goods and services, resulting in the shrinking of
the economy. Education does not create employment, but it does improve
your chances to find a job.
Increased unemployment results in increased rates of crime and
violence, as the gap between rich and poor increases. Social development
in conjunction with economic development must be balanced by education
in project management. Project management that brings people together
from diverse cultures, religions, social levels, and education levels
to effectively and efficiently reach set objectives.
Project management, where people are managed so that they can manage
their work, is the key to our future.
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