A developed country or "more developed country" (MDC), is a sovereign state that has a highly developed economy and advanced technological infrastructure relative to other less developed nations. Most commonly the criteria for evaluating the degree of economic development is gross domestic product (GDP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. Which criteria are to be used and which countries are classified as being developed are contentious issues.
Developed countries have post-industrial economies, meaning the service sector provides more wealth than the industrial sector. They are contrasted with developing countries, which are in the process of industrialization, or undeveloped countries, which are pre-industrial and almost entirely agrarian. According to the International Monetary Fund, advanced economies comprise 65.8% of global nominal GDP and 52.1% of global GDP (PPP) in 2010. In 2011, the ten largest advanced economies by either nominal GDP or GDP (PPP) are the United States, Japan, Germany, France, the United Kingdom, Italy, Canada, Spain, Republic of Korea, and Australia.
Read more about Developed Country: Similar Terms, Definition and Criteria, Human Development Index (HDI), Average Disposable Wage of OECD Members, Other Lists of Developed Countries
Famous quotes containing the words developed and/or country:
“In sci-fi convention, life-forms that hadn’t developed space travel were mere prehistory—horse-shoe crabs of the cosmic scene—and something of the humiliation of being stuck on a provincial planet in a galactic backwater has stayed with me ever since.”
—Barbara Ehrenreich (b. 1941)
“In schools all over the world, little boys learn that their country is the greatest in the world, and the highest honor that could befall them would be to defend it heroically someday. The fact that empathy has traditionally been conditioned out of boys facilitates their obedience to leaders who order them to kill strangers.”
—Myriam Miedzian, U.S. author. Boys Will Be Boys, ch. 3 (1991)