This research is being carried out to evaluate and present several benefits that are associated with good growth. These benefits may enhance a wide range of social virtues such as tolerance of diversity, dedication to democracy, commitment to fairness, and social mobility. …
Download file to see previous pages...
This essay discusses that once the living standards decline or stagnate, there is little or no progress at all in most societies toward any of the aforementioned goals, this leads to retrogression in many instances. The importance of good economic growth cannot therefore be overlooked as it ensures standards of living are improved as well as the well being of the economy itself. The impacts of economic 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, but rather, it is all about the nation’s ability to produce everything that the inhabitants of that nation want and need, which include improvement of public health, schools, as well as effective management of environment. This statement is validated by the argument advanced by Friedman to states that even though there is a wide belief that a bigger GDP ( 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 judge 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 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 growth. 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 high 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 will have to consider other things as opposed to the poor people who only think about basic survival. The wealthy on the other hand, will 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 national government to look into the issue of environmental improvement. Study shows that, even though during the early stages of economic growth there
...Download file to see next pagesRead More
Cite this document
(“Benefits that are associated with good growth Essay”, n.d.)
Retrieved from https://studentshare.org/business/1395649-benefits-that-are-associated-with-good-growth
(Benefits That Are Associated With Good Growth Essay)
“Benefits That Are Associated With Good Growth Essay”, n.d. https://studentshare.org/business/1395649-benefits-that-are-associated-with-good-growth.
Based on this research the middle class people fight irately against any supplementary taxation or job cuts. The poor people are hit even worse. Therefore, Reich advocates more sensible economic policies to be implemented. An analytical evaluation of this text would suggest that Reich has expressed very practical viewpoints in relation to the present economic slowdown.
The article “Why Growth is Good” has put forward some of his arguments on why steady growth should be the aim of the time. So the article of the author is close to reality and only a few modifications will make the article more compact. The author is correct from his point of view and the contradictions in some arguments arise only when the other viewpoints is taken into consideration.
Name Professor Date The Benefits of Having a Good Boss The success of an organization greatly depends on the boss. An organization that keeps a bad boss is likely to have employees who are unhappy and discontent. In contrast, an organization with a good boss will have happy and productive employees.
The major advantage of economic growth is associated with reduction of poverty. However, Donaldson (2008, p. 2127) argues that there are negative exceptions where economic growth leads to an increase of individual income that is less that the expectations of economists.
Therefore, the implication of geography on the economic development can be used to explain why the rate of economic growth in Africa is relatively slow. Both the human and physical geography of African countries is unique and distinctive. Human geography within Africa has, for example, created political problems with the associated economic implications.
And it does. The higher the Government Spending, the more availability of public goods in the country, proving to be beneficial for the citizens of the country. Public spending is a key factor in the state’s economic growth and development. It is very essential for financing infrastructure electricity, including roads and water but this public spending should be undertaken, after evaluating all the options so that it proves to be advantageous to the growth of the economy.
Routine life gets boring, dull, and very predictable thus offering minimal, if any, opportunities for learning, growth and personal development to an individual. It is through embracing the change that an individual can reach new levels in the struggle for
Huge growth disparities between the poor and the rich increase the level of poverty to the poor.
According to Clack 1800, the majority of the world’s population was comparably poor than their remote ancestors. The lucky denizens in the 18th C