• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Explain why the debate about global warming suggests that current economic growth is not sustainable

Extracts from this document...


´╗┐Explain why the debate about global warming suggests that current economic growth is not sustainable Global warming has been a controversial subject for decades. It is inevitable for an economy that wishes to grow in the short term as the efficient, non-renewable resources emit greenhouse gases whereas in the long term, it poses a threat for the economy of posterity. A UN study has revealed that global warming increases the magnitude and frequency of natural disasters, thus pushing the economy on the brink of collapse. Experts believe that the global warming has increased the size and frequency of hurricanes. The Katrina hurricane in 2005 may be used as a justification to this statement; it caused $125 billion worth damage in the US. ...read more.


As a result of these natural disasters caused by global warming, there is a decrease in a country?s population. This affects the production of goods and services as there is a shortage of labour. Haiti which had been struck by an earthquake of magnitude 7.3 was forced to ?import? labour for the survival of its economy. This has been a difficult process as workers are reluctant to move in a country susceptible to earthquakes. On the other hand, these disasters may be beneficial if a country is overpopulated as unemployment is reduced, which diminishes the crime rate but at the end of it all, the GDP still drops due to infrastructural and agricultural losses. ...read more.


This destroys Bangladesh?s main crop which is rice, thus incredibly reducing its GDP. Conversely, some countries benefit from global warming as it extends the growing seasons, although the fact that the world?s average temperature is continually increasing is not changed. There will come a time when the extremely high temperatures will not be suitable for any crop. Therefore global warming eradicates any prospect of a sustainable development. In addition to the threats posed by global warming for a sustainable development, there is a danger of the depletion of the non-renewable resources which cause global warming. This is where the economist Herman Daly?s ?uneconomic growth? come into play as the depletion of the non-renewable resources compromises the living standards of the future generation. Therefore, it is evident that although a sustainable economic growth is hindered by several other factors, global warming consummates the fact that the current economic growth is unsustainable. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our International Baccalaureate Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related International Baccalaureate Economics essays

  1. Barriers to Economic Growth and Development

    The developing nations started to borrow money from the Western banks but they had to pay their borrowed money in hard currencies such as USD, British Pound, YEN etc... When the banks lent huge amounts of money to these developing nations they did not ask the nations what the money was going to be used for.

  2. An Investigation of Vietnam's Barriers of Economic Growth and Development

    It is no surprise, therefore, that Vietnam's per capita GDP (PPP) of $3,123 (ranked 128) by the International Monetary Fund, meaning that the average income of a person living in Vietnam is approximately $8.70 per day. This is equivalent to earning US$3.20 a day according to nominal per capita GDP.

  1. Economics Extended Essay - To what extent has the market for paintings in South ...

    Thus the price fell because of the massively reduced demand from the speculators. It was also observed that because of the drop in prices, the demand from collectors was not as much as was expected. In fact the drop in demand from collectors for contemporary artists was 30%.

  2. The Economic Problem andEconomic Systems

    External benefit = any benefit of the decision to people other than the decision maker (positive externality). Social cost = the total cost of the decision to the whole of society = private cost + external cost. Social benefit = the total benefit of the decision to the whole of society = private benefit + external benefit.

  1. In Haiti, Abductions Hold Nation Hostage

    International financial barriers also play a role in this situation in the form of foreign investment. Since there has been an increase in crime due to the kidnappings, some nations are not willing to place their money in the country for fear that it might go to corrupt officials who won't spend it where necessary.

  2. The Benefits of Microcredit to Bangladesh

    Loans for ultra poor, 4. Agricultural loans, 5. Seasonal loans, and 6. Loans for disaster management. Loan amounts up to BDT 30,000 are generally considered as microcredit; loans above this amount are considered as microenterprise loans. KEY INFORMATION OF MICROFINANCE SECTOR Sl No. Particulars June 2009 (489 NGO - MFIs)

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work