This research study assumes that people will be better off if there is greater equality of income, if per capita income increases, and if they have better access to education and health care through which they can lead a more fulfilling life. The World Health Organization defines health as a state of complete physical, mental, and social well being and not merely the absence of disease and infirmity. Education is a basic need because it improves skills, improves productivity, and lowers reproductivity by improving the status of women. Education also contributes to meeting other basic needs. If the behavioral changes from education can be built into other welfare programs dealing with health, nutrition, and sanitation, savings by a factor of ten to twenty on the cost of implementing these other programs can be attained (Streeten, 1981). Only when people’s basic needs of health, education, and a reasonable standard of living are met, can they derive benefits from the country’s increased growth rates. When there is greater equality of income, then the poor are equally able to benefit. Therefore, for the purpose of this paper, socio-economic development can be said to consist of access to resources, health, education, and greater income equality. The level of socio-economic development indicates the quality of life.
"The Relationship between Economic Freedom and Socio - Economic Development,"
University Avenue Undergraduate Journal of Economics: Vol. 7
, Article 6.
Available at: https://digitalcommons.iwu.edu/uauje/vol7/iss1/6