Essay on The Concept of Economic Growth & Development

Plastic's end of life cycle involves being discarded, either recycled for reuse or dumped into a landfill or the ocean. Recycling's popularity has significantly grown since the 1970's, as well as the overall number of plastic products being produced. In addition, the amount of plastic products being created as significantly increased over the past 60 years. Due to the endurance of polymers, plastic is filling up landfills faster than it should and invading our natural habitats. Recycling is one of the most critical things we can do for our environment. It can cut down on the amount of plastic in landfills as well. Recycling plastic reduces the need to create more plastic, which also cuts down on oil use and pollutants being released into the air. In the time that recycling has become more popular, technology has advanced to create more job

“Many current discussions about sustainability focus on the ways in which human activity...can be maintained in the future without exhausting all of our current resources… there has been a close correlation between the growth of human society and environmental degradation - as communities grow, the environment often declines” (603).

As once said by the Once-ler, from the tale of The Lorax, “Complain all you want, it’s never, ever, ever, ever gonna stop.” This is a strong message of a children’s book but it can impact how every life spends each day. The growing economy is directly linked to industrialization, which is damaging the Earth more and more each day. Industrialization is the rapidly growing spread of business and industries within a region, and can be shown in practically any country on Earth. There are many environmental issues that industrialization has caused but one in particular is our overuse of scarce resources, therefore, nations have responded to this issue by using renewable resources.

Under a staggering development of economy, many people immigrate to foreign country, such as USA, UK and Australia. Therefore, they promote development of economic of these countries, as well as bringing to negative effects. In this essay, I will discuss that how influence the economic of developed countries. For example, population of America will be twice in this century. Especially, the number of children increased sharply. So that need as twice as houses, cars, roads, prison, hospitals, schools water treatment facilities and so on. Therefore American needs more nature resource than before.

My propose of writing this paper is to examine the current rate of climate change and its negative impacts, therefore, explaining why changes need to be made in the environmental governance for the betterment. This essay will answer the question that do changes in the environmental law effect the economic growth of the country? And if so is the implementation of environmental law still important.

Not all aspects of economic growth are positive, for example when an economy is at, or near its full capacity of productivity prices can be driven up causing inflation and the devaluing of their currency, where each unit of currency buys fewer goods and services that it previously could have. It can increase the

While industrialization has been strongly associated with greenhouse gas emissions, it is premature, however, to conclude that economic growth is the independent factor responsible to climate change. Neumayer (1998) contended that there is no sound scientific evidence documenting consequences of economic development on the environmental degradation in the long term (p. 4). There is also no linear association between economic growth and environmental deterioration, as maintained by Ferguson et al. (1996, p. 28) that the existing evidence “cannot be used to justify a view that economic growth (…) will automatically be good or bad for the environment” (cited in Neumayer 1998, p. 16).

The western world’s, the US in particular, tendency for free market development and economic growth as a part of DSP has substantial effects on the environment due to various reasons. As the DSP considers the nature as abundantly available to pursue unlimited growth, various problems have resulted over time. The demand and supply theory that has been driving the markets for longtime makes industries to understand the desire of customers for comfort and produce goods accordingly (Smith, 2003). The social paradigm, in the form of exclusionist paradigm, has made people view

Important advantages of Resources on the Earth are limited.That the way we behave now does not make life difficult or impossible for future generations.To achieve sustainable development,we need to carefully consider the need for economic development,where standards of living improve

Polyethylene is used numerous applications like plastic bag, water bottle and takeaway containers. This plastic eating bacteria can biodegrade the plastic at 0.13mg a day. It is estimated that it might take 100 to 400 years to degrade the polyethylene in landfills9. It is found that the enzymes in the worms can digest this chemical and it is safe the environment. Since plastic takes a long time to decompose, its carbon footprint involves the creating new landfills and incinerations. Both can be harmful to the environment8. This engineering solutions can be used to convert and biodegrade the plastic in a safe way.

The poverty-environmental linkage has several dimensions. From an economic growth perspective; rapid economic growth is often seen as the key foundation for achieving poverty reduction. There is a lot empirical evidence in support of this assertion. Therefore while the linkage between economic growth and poverty reduction is generally obvious, the relationship between economic growth and degradation of the environment or and improvement in the environment remains ambiguous or unclear. One part of the poverty-environment hypothesis suggests that economic growth is needed to break the poverty-environment downward

The decline of the environment due to natural and human exertion is known as the degradation of the environment. The natural weather occurrences such as heavy rain, flooding, storms, earthquakes, volcanoes etc. are not administered under human control. These meteorological phenomenon’s wreak devastation on the environment from time to time causing the land to become unsuitable to cultivate. On this subject matter, the human population does not contain the power to stop the wrath of Mother Nature. Rather, we are forced to sit back and watch. Nevertheless, humans engage in a crucial role towards the degradation of the environment in which we live in. Unavoidably, the degradation of the environment is a rising and utmost worldwide subject. I accept that the root cause to environmental degradation is the excessive use of resources on our land utilized by the processes under capitalism. As Jensen wrote in Endgame, “The global industrial economy is the engine for massive environmental degradation and massive human and (nonhuman) impoverishment.

Taking into consideration the trickle-down theory of economics by Lewis, if the growth in economy is not sufficient to satisfy the needs and wants of the upper sections, nothing or very little shall trickle down to the lower sections in the hierarchy of society. Thus, the gap between the rich and poor widens and though economic growth has impacted a certain section of society, this cannot be considered development. Another example is an increase in the defence output of a nation, which accounts for an increased GDP but does not in any way contribute to economic development. Economic growth is not enough in itself to measure economic development as even if there has been a leap in the income of people in a particular nation,

Economic growth refers to the rate of increase in the total production of goods and services within an economy. Economic growth increases the productivity capacity of an economy, thereby allowing more wants to be satisfied. A growing economy increases employment opportunities, stimulates business enterprise and innovation. A sustained economic growth is fundamental to any nation wishing to raise its standard of living and provide a greater well being for all. Gross domestic product (GDP) is the monetary value of all final goods and services produced over a year. It is the total value of production within the economy. The total value of production is the total value of the final goods or services less the cost of

Development processes is connected with environmental degradation and use of natural resources. Rudel et al. (2011) assumes the present of two distinct waves of development power which control environment. The first wave of political economy deals with the power of capitalism as the main agent for environmental degradation, while the second wave concern with the social power (community) to control the use of natural resources.