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Ghana's per capita income nearing $1,000 by 2010?

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GhanaThink Managing Executive abocco

This is from a Ghanaweb news story (8-12-05)

The government's aim of achieving a $1,000.00 per capita income by the year 2010 is being realized as it has increased from $450 to over $600, the minister of Finance and Economic Planning, Mr. Kwadwo Baah Wiredu has reiterated.

The minister told some financial reporters at his office on Wednesday that, indeed, Ghana has crossed the $600 per capita income level and this would be announced by the relevant body in the coming days.


http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=87871

This is encouraging but I am a little confused as to where the increases are stemming from. Anyone want to help me out?
And what are your thoughts on the issue?

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dudess

Indeed this is good news.

Indeed this is good news. But the measurement of per capita income means nothing by itself. It is a one-dimensional measure.

For a deeper understanding of the well-being of a nation, one should use measures such as the Human Development Index. Ghana has a HDI of .568, above countries such as Kenya and Nigeria but below countries such as Gabon and Botswana. (http://hdr.undp.org/reports/global/2004/pdf/hdr04_HDI.pdf)

Further, one should examine indicators of income distribution. For example, an increase in per capita income could mean that the top percentiles of the population have grown richer while the lower percentiles have grown poorer. This is precisely the issue in China, which has seen a rapid increase in per capita income but also a sharp increase in income inequality. Some argue that increasing income inequality does not matter. According to them, "the rising tide lifts all boats." But this matter is open to debate.

gemdexter

hows our per capita coming

hows our per capita coming along now?