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Discuss The View That Economic Growth Is always Desirable

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Introduction

´╗┐Discuss The View That Economic Growth Is always Desirable Firstly, Economic growth (EG) is positive change in the actual output of Goods and Services produced by the factors of production in an economy over a period of time, it is expressed as a percentage change on previous year. Sustainable Economic Growth is growth that follows the trend rate and over time doesn?t endanger future generations ability to expand productive capacity. The last line of the definition concerning sustainability is relevant to the question heading as there is a strong link between sustainability and desirability. When evaluating Economic Growth you have to think of the impacts it will have and that catalysts have upon: the environment, society and future EG. ...read more.

Middle

Also due to the banks holding high levels of toxic assets and to spur forward lending from banks, Governments from all over the world injected trillions of capital into the financial sector. This demonstrates how short term EG can lead to huge undesirable effects upon society and the Tax Payer. In addition to the credit crunch there is also natural disasters, at first look it may seem a good way to increase Economic Growth, as the damage would create jobs to fix the damage. However the insurance companies, government and insurance premiums would actually endure this cost. Not to mention the fact these natural disasters result in the deaths of several people. ...read more.

Conclusion

In order to make economic growth sustainable and desirable the effects mustn?t be negative upon society, the environment and the ability to continue the EG. Looking at the fact that natural disasters may cause short term economic growth at the time in rebuilding etc and that Economic Growth based upon high pollution from fossil fuels demonstrates how these unsustainable methods to spur forward Economic growth results in undesirable effects. To conclude Economic Growth is definitely not always desirable because of the negative effects it has on the environment, on society and the ability for future generations to have Economic Growth, this applies to China?s booming economy that relies on unsustainable fossil fuels and is damaging its enviroment. ...read more.

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