Why Conditions in Under-Developed Countries Do Not Improve

In underdeveloped countries, the improvement of living conditions is often hindered by a combination of factors. These include limited resources and the necessity for all family members to contribute to work. In contrast to developed countries, time is a valuable commodity. Individuals have the luxury to pursue education. They can also prioritize health. Meanwhile, in underdeveloped countries, the focus is on sustaining families in the ‘now’ situation.

With limited resources available, everyone is needed. Family members, including children, are often required to work outside the home. This happens instead of them attending school or seeking medical care. This perpetuates a cycle. The lack of education and healthcare maintains the conditions of underdevelopment. It is challenging for these countries to break free from this cycle. It’s a complex issue that requires coordinated efforts from various stakeholders to address.

ABSTRACT
The economics of life are ruled by time, money, their exchange rate and how much of it is needed to satisfy the basic needs of the household. Discretionary Time (DT) and Freely Disposable Time (FDT) are two newly developed conceptually equivalent but methodologically different social indicators that integrate these time and money elements into a single metric. Both indicators express how much time the productive members of a
household have left after fulfilling the basic needs (of food, shelter, care, sleep, consumables etc.) of themselves and their dependents. This chapter discusses (1) the principles of DT and FDT assessment and some outcomes in various countries, (2) the linkages of DT and FDT with freedoms, potential income, development, poverty and happiness, (3) the caveats that may be identified in these linkages and (4) indicator choice in relation to mono-dimensional, pure time and money indicators of welfare and poverty.

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