The Need for Sustainable Development in Nigeria - Dissertation Example

Download file to see previous pages Energy consumption and economic growth are two important subjects this dissertation would like to address and discuss. They are significantly connected for as the economy grows so does energy consumption. It can be stated that with more economic activities that lead to growth, more energy is needed to pump prime these activities.

Global economic growth studies first drew interest in the eighteenth century with Adam Smith’s writings and from Robert Solow’s seminal paper titled “A Contribution to the Theory of Economic Growth.” Both these authors based their writings on the existing economic conditions at that time. There were shifting conditions that motivated authors and scientists to write because world economic growth also tends to shift, from positive to negative growth then back to positive again. The factors to be considered are inflation and unemployment and the capacity of the countries and regions to produce goods and services. (Liu & Premus 2000, p. 1)

In the world economic projection discussed in the further section of this paper, it is interesting to note that in the United Nations report titled World Population to 2300 some countries’ economies will remain as they are today, for example, North America will not experience negative growth, although other countries in Africa will experience positive growth and higher life expectancy.

Growth economics provide answers to questions of growth and stagnancy of countries of the world. The answers provided by Solow seem to be basic: if you work hard and save a lot, you grow as an individual, economically at least. But of course, concerning the economies of countries, there are some factors to be considered, like resources and capital-labor, and so on.

Energy has played a significant role in the growth of any economy. It drives industries and even technologies. Without energy, work will be slow and economies will go back to prehistoric times. But with the advent of high technology, computers, and the internet, economies are moving fast. The developing economies have to catch up with the speed with which others are moving.

The need for fuel and energy has influenced the foreign policies of nations around the world. Of particular focus is Nigeria, a country in Africa that is one of the many troubled regions of the world. ...Download file to see next pages Read More