Economic Growth and its consequences

Economic growth and environmental protection are not at odds. They’re opposite sides of the same coin if you’re looking at longer-term prosperity.

Economic Growth refers to the increase in aggregate production in an economy.

Increase in the number of physical goods

Technology

Grow the size and skill of the labor force.

The increase in production is known as Gross Domestic Product, which directly transfers to the fact that with an increase in a nation’s GDP, production increases and supports economic growth.

Factors

2 Steps Forward, 1 Step Back

We learned that economic growth and environmental protection can and should go hand in hand.

All these benefits allow for clean air and water, healthiest food, and hygienic living conditions which translates to better human health, in extension bolstering Economic Growth.

Takeaway

What modern history taught us is that Economic Growth and Environmental protection indeed go hand in hand.

The economy is an element that we humans rely on and believe in. The best chance of giving it meaning is by ensuring that the planet we call home benefits.

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Nilabha Mukherjea

Nilabha Mukherjea

A Bioengineering student with a passion for asking the right questions.