Introduction The accompanying paper analyzes the contentions and the key thoughts expressed in an article by Robert Costanza and Ida Costanza ' time to leave the GDP behind ‘.283-285 [ 2014]. It will further center around the issues with numerous nations with generally high GDP development yet poor societal condition India being in the spotlight being a perfect example. This raises attention the global concern that Is GDP growth the most important thing for the countries? or is there any life beyond GDP? GDP is a misleading measure of national achievement.
Development is a normative concept due to which there is a constant tussle in conceptually defining development. There are different models of development parse but it has been increasingly equated to economic development and wrongly paralleled to economic growth. In strictly economic terms, development has conventionally meant a sustained annual increase in GNP (or GDP) at rates that vary from 5 percent to 7 percent or more (Kapila, 2013). Till the 1960’s the term economic development was used as a synonym to economic growth; where the latter meant increase in per capita GNP in real terms (adjusted to inflation). According to the economic historian Kindleberger, “Whereas economic growth merely refers to a rise in output, economic development
Which means benefiting the economic growth. There are several reasons to consider income inequality harming economic growth. First, the strongest mechanism that affects the growth of the overall economy is lack of education opportunities. Knowing that people whose parents are poor do not have the means to educate their children and end up in low-quality schools, which reduces skills and development in society. While those who come from
The issue of population growth and over population that was most challenging to me was the lack of solutions to the issue. The world population and its growth are not sustainable, I understand that there are ways to control population, such as birth control, education and a head tax. However, I question how realistic population control is and how effective can it be. For instance, the suggestion that development may reduce overpopulation seems to be counterproductive, as development also increases environmental degradation. Similarly, as the article we read for the first week of class states education helps reduce overpopulation but the more educated the society, the higher the incomes, the more resources they consume (McKeown, 10).
If this trend between the upper class and the lower class continues it could cause many problems. For example, income inequality has an effect on an individual’s health, and could also cause economic growth failure. First of all the United States is becoming a plutocracy nation. Having a country run by only a relatively small amount of people could be an issue
First, in the 1950s were rapidly declining mortality caused a rapid change in the number, composition, and growth of the Indonesian population. At that time the population increased rapidly because fertility did not immediately follow the decline in mortality. Second, in the late 1970s, it was characterized by a relatively rapid decline in fertility rate. This second demographic transition is still ongoing, with the impact seen from the decline in population growth rates from the 1980s-1990s. Third, it began in the 1990s that changed the regional composition of the population in Indonesia.
Poor teacher quality, too, refers to weakness in education. For example, high-income communities attract qualified teachers by paying high salaries. In that case, low- achieving students from low-income families make it difficult to attract and retain skilled teachers, which will lead to inequality in achievement among children. Additionally, teachers prefer high earnings, good resident with low violent crime (Boyd et al, .2011). As it seen, preparation for acquiring knowledge requires more money source.
But the ageing population of European countries, in recent decades, is due to the relatively high birth rate in first quarter of the century, coupled with the decreasing rate of mortality in all age groups. The broad decline in fertility resulting in a process of population ageing, which occurs at a rate that does not correspondence in the history of most countries already aged and has significant social implications. Due to the differences in mortality due to gender, ageing tends to assume a greater dimension in women. Moreover, for a certain period of time, the changing age structure
Austerity policy is not good in the current situation, because it could cause revolution, increasing unemployment, decreasing GDP,export and government cannot afford money on education, so poor people became not to be able to go to school. I think austerity policy is for when country is in a good time, not recession. (Pettinger, 2013). Stimulus policy is much better than austerity policy though there is some problem. It leads to increase GDP, inflation, economic growth and decrease unemployment.
Income inequality is one of the most serious problems of the twenty first century. The people who suffer the most from this issue are usually discriminated against because of their gender, ethnicity, disability or even race. This discrimination extends to many aspects of these people’s lives which include access to job opportunities, education, healthcare or even basic life necessities such as food. Moreover, income inequality is spread in both developed and developing countries which means the lack of resources is not the issue here. This makes sense since the world economy is still growing but we are still facing many worldwide issues such as poverty, environmental degradation, persistent unemployment, political instability, violence and conflict.
The results of this were catastrophic. There began to be a gradual decline in prices and the stock market ruptured. On October 24, 1929, the infamous “Black Thursday” took place, where stock holders went on a panic selling spree. Things then went from bad to worse, stock prices went down 33 percent. People stopped purchasing goods and business investments decreased after the crash.
In the late 70’s they were close to running out of food supply and it would have been a repeat of the “disaster of 1959”. Deng Xiaoping turned people’s communes into private lots which increased agricultural production, increased the living standards for many farmers and stimulated rural industry. It was important factor contributing to China’s economic success. In 1984-1993 Deng reopened the Shanghai Stock Market, while the decentralized state control and provincial leaders had to come up with different ways to increase economic growth. After inflation in 1985,1988 and 1992, China slowly became important to the socialist market economy.
Overpopulation diminishes resources in a country and increases poverty. Overpopulation in South America even impacts the United States due to the increased migration of citizens looking for a better life and a way out of the poverty of their home country. Sustainable development in South America is also important due to the fact that we, as a nation, consume many products from the region. While it might be easy to look