Benefits that are associated with good growth Essay

Benefits that are associated with good increment - Essay ExampleThis essay discusses that once the living standards decline or stagnate, there is little or no progress at all in about societies toward any of the aforementioned goals, this leads to retrogression in many instances. The importance of good stinting growth scum bagnot thus be overlooked as it ensures standards of living are improved as considerably as the well being of the economy itself. The impacts of frugal growth should not necessary be negative towards the environment. It has been argued by some economist that economic growth can ultimately lead to environmental improvement, notwithstanding the increase in environmental degradation in the past associated with economic growth. As Robert Reich puts it, economic growth does not necessarily mean production of a lot of stuff, tho rather, it is all about the nations ability to produce everything that the inhabitants of that nation want and need, which include improv ement of public health, schools, as well as strong management of environment. This domainment is validated by the argument advanced by Friedman to states that even though there is a wide belief that a large gross domestic product ( availability of more services and goods) show the way to more satisfied and happier citizens, the proposition is more complicated than it seem. According to him, most individuals do come close their well being through weighing themselves against other people. For this reason, in the event that the average income of a given country increases the expectations of the people also go up. Consequently, the levels of GDP taken alone per individual in a particular nation, does not essentially give a clear reflection of the level of happiness among the citizens. The absence seizure of a direct connection between the levels of GDP per individual in a given country and individual satisfaction seems to challenge the purely economic point of view in support of gro wth. This raises the question as to the veracity of people having to go through all the turmoil of economic restructuring as well as technological change while, the availability of bigger homes and more gadgets are not going to make people happier It has been the contention of other economist economic growth is good and important as people get to see their own earning increasing, and they do not have to worry about comparing themselves with others. Eventually, that state generates a more conducive environment for both social and political advancement in a given country. As pointed out earlier, economic growth does not necessarily have to go hand in hand with environmental degradation as a matter of fact growth can be a very vital tool in controlling and managing environmental degradation as pointed out by Robert Reich. According to Dinda (2005), contrary to most people beliefs, continues economic growth can be the best means through which environmental degradation can be addressed. This can only be done by developing a mechanism that defines the relationship between income generated and environmental degradation. As Dinda (2005) puts it, when a particular country attains a satisfactorily mellowed living standard, the citizens of such countries attach more importance to environmental facilities around them. To put it more simply, the more people become wealthier, the more time they volition have to consider other things as opposed to the poor people who only think about basic survival. The wealthy on the other hand, forget have more time to think about being more richer and environmental conditions. Since they do have significant influence, they are capable of influencing the local and study government to look into the issue of environmental improvement. Study shows that, even though during the early stages of economic growth there