The Forces of Capitalism and Global Economic Interdependence Research Paper

The Forces of Capitalism and Global Economic Interdependence - Research Paper Example According to the United Nations Human Development Index, the development includes a variety of attributes and is not solely an economic consideration. The Human Development Index, or HDI, explores development using a wide net and combines a variety of social indicators in its index to account for development including life expectancy, rates of literacy, GDP per capita, educational opportunity, standards of living, and opportunities for advances for women, etc. HDI is used to measure the development of a particular country and focuses on a variety of indicators to do so. Sustainable development, the belief that development can sustain itself, promotes development not only now but also in the future. Development which is long-term and not focuses only on the immediacy is said to be sustainable. The UN Human Development Index explores the sustainability of development and views development through a wide lens. Since the purpose of this analysis is economic development however, the follo wing will focus more on economic modes of development, while keeping in mind the important indexes put forth by the United Nations. The following will discuss capitalist development as the primary engine of economic growth in a global era (United Nations 2008). Capitalism is arguably the most well-known model of economic development and growth and is responsible for the globalization of international trade, foreign capital and the growth and development of much of the Western world (excluding Cuba and including Australia, which is commonly included in economic analyses of the â€Å"West†).