OECD
OECD
OECD (pronunciation: /ˌoʊˈiːˈsiːˈdiː/), an acronym for the Organisation for Economic Co-operation and Development, is an international organisation that works to build better policies for better lives. Its goal is to shape policies that foster prosperity, equality, opportunity and well-being for all.
Etymology
The term OECD is an acronym derived from the English name of the organisation, the Organisation for Economic Co-operation and Development. The organisation was established on 14 December 1960, replacing the Organisation for European Economic Co-operation (OEEC) that existed from 1948 to 1960.
Related Terms
- Economic Development: The process by which the economic well-being and quality of life of a nation, region or local community are improved. The term is often used to refer to the development of economic wealth of countries or regions for the well-being of their inhabitants.
- International Organisation: An organization with an international membership, scope, or presence. They are typically made up of nations that have banded together for a specific purpose or goal.
- Policy: A course or principle of action adopted or proposed by an organization or individual. In the context of OECD, it refers to the economic and social policies proposed and adopted by the member countries.
- Prosperity: A successful, flourishing, or thriving condition, especially in financial respects.
- Equality: The state of being equal, especially in status, rights, or opportunities.
- Opportunity: A set of circumstances that makes it possible to do something. In the context of OECD, it refers to the opportunities for economic and social advancement provided to all individuals, regardless of their background.
- Well-being: The state of being comfortable, healthy, or happy. In the context of OECD, it refers to the overall quality of life of individuals in the member countries.
External links
- Medical encyclopedia article on OECD
- Wikipedia's article - OECD
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