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  1. A powerful factor in increasing private investment (lowering transport costs), and
  2. In creating new jobs and,
  3. In promoting long term growth in all five of Portugal’s regions, and
  4. Positive impacts on the government’s budget.
    How positive? New tax revenue generated by the road projects exceeded the costs of road investments by government.

Interesting corollary¬—Portugal along with Greece and Spain are in a bad way in 2014 – high fiscal deficits and debt owed to other European nations. If to decrease the deficit Portugal sharply cuts spending in roads, this could decrease long term growth.

Also you will see that technological advances everywhere, and especially in emerging nations require huge amounts of investment, both human and physical capital. Change, when it occurs, now comes fairly swiftly, due to technological innovation made possible by investment in human capital.

Traditionally, the World Bank and the U.N. have divided the world’s countries into 3 categories:

  • Developed
  • Developing
  • Under Developed (definition now obsolete?)

With the kind of rapid technological change underway, combined with globalization and increasing inter-connectedness of world markets, these categories will be obsolete by 2025.

In 2025, nations will not be categorized as developed or developing, but as smart, smarter and smartest.

With advances in Biotech, Nanotech and Infotech, and with increasing degrees of competition flowing from globalization, most people will have to change not just jobs, but careers 2-3 times in a lifetime.

Only the well-educated, highly adaptable will thrive. Keep focused on India . Today one South Korean produces as much as 20 Indians (and have some GDP but S. Korea 1/20 the number of people). But India has a large, growing reservoir of smartness. Combine this with democracy plus a higher education system still superior to China = Great Prospects, provided India finally begins to rectify a very large deficit in one type of physical capital – infrastructure, including roads, ports, harbors.

Models of economic growth

Increasingly, nations seek to increase not merely economic growth, but sustainable economic growth over time. We postpone until Chapter___ discussion of issues on sustainable growth, such as air and water pollution, sensible use of natural capital (energy, forests, water and fisheries) and climate change.

In the past six decades economic growth in emerging nations has been substantial, but not always sustainable. However, it is undeniable that such economic growth as has occurred in emerging nations has had very significant beneficial effects on the world’s poorest.

Growth has sharply reduced the incidence of immizzeration and deprivation. The international definition of poverty on income per person of less than U.S.$1.25 per day. The share of the world’s population living on less than $1.25/day has dropped from 30% in 2000 to 10% in 2014. Growth has helped to drastically increase life expectancy. A century ago, life expectancy at birth worldwide was but 30 years. By 2014, life expectancy had reached 70 years, and in developed nations such as Sweden and Italy, 82 years. "The Headwinds Return" ,Economist, , September 13, 2014. Infant mortality has also fallen very sharply especially in emerging nations, from China to Peru. In 1990, an infant mortality rate (under 5 years) in Ethiopia was 200 deaths, Bangladesh 149, Cambodia 120, Peru 88 and China 50. In all these nations’ rates in infant mortality in 2002 were at least 60% below 1990.

Questions & Answers

Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
what school?
biomolecules are e building blocks of every organics and inorganic materials.
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
sciencedirect big data base
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
characteristics of micro business
for teaching engĺish at school how nano technology help us
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
what is the actual application of fullerenes nowadays?
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
is Bucky paper clear?
carbon nanotubes has various application in fuel cells membrane, current research on cancer drug,and in electronics MEMS and NEMS etc
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Do you know which machine is used to that process?
how to fabricate graphene ink ?
for screen printed electrodes ?
What is lattice structure?
s. Reply
of graphene you mean?
or in general
in general
Graphene has a hexagonal structure
On having this app for quite a bit time, Haven't realised there's a chat room in it.
what is biological synthesis of nanoparticles
Sanket Reply
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic development for the 21st century. OpenStax CNX. Jun 05, 2015 Download for free at http://legacy.cnx.org/content/col11747/1.12
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