The Pursuit Of Economic Growth Is Not In People’s Long-term Interest. To What Extent Do You Agree Or Disagree With This Statement. Discuss.

Name of StudentName of InstructorCourseDateTitle : The pursuit of scotchal addition is not in people s semipermanent interest . To what extent do you chalk up or disagree with this statementIntroduction stintingal gain refers to the improver in the levels of a country s wealth and capital as a pull up stakes of positive throw in the levels of production of goods and services during a certain period of time .1 Economic increase is normally ignited by proficient advancements and positive external forces . Economic growth can be measured either in terms of nominal growth or real growth . Nominal growth takes inflation into account and thence demonstrates frugal growth as Net Domestic intersection opus real growth does not account for inflation and thus demonstrates economic growth as Gross Domestic ProductEconomic growth is usually determined by levels of Gross Domestic Product (gross domestic product . GDP is the means of measuring economic growth because increase or decrease in the GDP levels in a country reflects the real the well-worns of living of its population . GDP is the economic value of all last(a) products of all final goods and services produced in a country in a given course expressed in m adepty value .2 GDP of a country equals value of exports , minus the value of imports . As much(prenominal) , GDP can be summarised as followsGDP Consumption stark(a) Investment Government Spending (Exports-Imports ) or simply GDP C I G (X-MHowever , it must be state that economic growth entails more than just mere change of scale of economic magnitudes . By its very own spirit growth modifies economic structures thereby adjusting the general technological and loving kinetics in a country . bourguignon sauce points unwrap that economic growth may modify the sectoral structure of an economic unit , leading to close down of firms in one sector and creation of new firms in another .3 Bourguignon further notes that growth modifies the structure of prices , thus affecting the standard of living in households in a way that depends on their consumption preferences .

4 Moreover economic growth calls for increased technological innovations which in turn increases the necessity for increased technological acquaintance and skills , a situation that would require increased investment in education and better remuneration for holders of such important skills . The final and most important attribute of economic growth is that it reduces the rampant availability of public goods such as adequate water system supply and clean air due to increased pollution . Consequently , this may call for intervention and preventive measures in to maintain adequate supply of the environmental goods . Therefore , economic growth tinges on the economy , social structures and environmental factors of a countryTherefore , people , as the human factors of economic growth die hard very important components of economic growth . While economic growth is primarily driven by state dynamics and machinery , the interactions within the societal fabric bear consequential impact on the manner in which economic growth may either be beneficial or harmful to the long-term interest of the people .5 Therefore , the pursuit of economic growth presents as...If you want to get a full essay, order it on our website: Ordercustompaper.com

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