Essay On Sustainable Economic Growth

Introduction

Economic growth is an increase in a country's productive capacity, as measured by comparing gross national product (GNP) in a year with the GNP in the previous year. And in recent years the idea on sustainable growth has been brought with additional factor: environmental awareness, which is an ideology of understanding the fragility of our environment and the importance of its protection. Thus, there are questions: will the sustainable economic growth throughout the world bring less harm to the environment? Or will increases in income and wealth cause ecological problems? The answers to these question are the essence of our presentation. Scarce and renewable resources are the inputs into production of almost every good and service. But the methods

The factor that signifies this statement at most is EPI index vs GDP per capita. It was declared that among the countries EPI increases as the GDP per capita increases, proving that economic growth leads to a better performance of the economy in the ecological perspective. Another great reason for rejecting the original hypothesis is the correlation of EPI to HDI, which supports the statement made in the introduction. Overall GDP increase leads to the economic development. As a result, economic development causes a higher EPI index, showing that the environmental state is better in the countries with higher HDI index. However, we conclude that, nevertheless the economic growth is good for the environment, it still needs to be highly controlled. The aim for rapid economic growth, which is not limited by the possible negative outcomes, may lead to highly dangerous ecological situations, the example of which is China, as was said before. Another example of uncontrolled economic activity is Fukushima nuclear station in Japan. Fukushima disaster led to sever consequences to Japanese sea and its