We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Economic growth is considered as one of the most essential parts of the economics, and it is defined an increase of goods and services of a country within certain period (Guacamole, 2012). Midis (2013) claimed that, this economic growth conception particularly relates to the growth of potential output and production which is measured by gross domestic product per capita (GAP). Economic growth ideology has a long history, though it has been existed since the mid-18th, economic growth has dominated politics and policies since 1945 worldwide (Kills et al, 2010). Indeed,

The best essay writers are ready to impress your teacher.
Make an order now!


Baleen et al (2012) mentioned that, economic growth conception merely exists in economics, and it is determined as the increase or development of goods, production, technology, and services. However, Rains et al (2000) noted that, economic growth theory also concerns ecology, environment, social and moral values, and therefore it causes swift increase of human well-being. Due to mentioned controversial arguments for economic growth, the aim of this essay is to examine precisely the economic growth ideology and critically scrutinize it in terms of several aspects.

Economic growth JUST FROM $13/PAGE

This say will argue about economic growth and it will reveal that, economic growth notion is the growth of output and income, increase of produced goods, rapid development of technology, and it is equally measured by GAP. Firstly, economic growth will be discussed in terms of economic aspect, it will reveal some limitations of GAP measurement such as exclusion of some economic activities (the costs of crime, growth of prisoners).

In the next step, it will be examined from an environmental and ecological perspective and demonstrate some benefits for environment as well as preventing water scarcity with developed technology, some repacks for mankind such as air pollution and degradation of environment. In conclusion, on the basis of mentioned evidences, it will conclude that economic growth has slightly impact on the human well-being.

Starting with the analysis of economic growth notion from an economic perspective, growth of income and outcome, increase of productivity and services, decrease of unemployment, monetary value of goods, and markedly increase of technology are leading issues, indicated by GAP. The study of Berg et al (2009) reveals that, GAP is an estimate of market throughput, equally measurement of output and income, and reduced goods both by foreign and local companies.

Renter et al (2012) claimed that, economic growth lead to the increase of economic force of state, as it increases production, develop technology and reduce unemployment. In order to increase economic force of state, the governments try to apply valuable economic system in countries (ibid). Marx (1858, cited by Ex., 2010: 20) who was first person stated capitalism term in economics, showed that capitalists were subject to an inevitable growth imperative.

As, there is a competition among capitalists that is defined each individual capitalist increase his profit, and therefore nowadays capitalism system dominate worldwide. Furthermore, Stanza et al (2009) mentioned that, economic growth doe not only lead to high rate of employment or increase of output, but also it causes higher tax revenues for the government, thus it favors strength to government trot an economic perspective, and G P only measures only economic activity T sum up, it seems that economic growth ideology impact on country ‘s economy, particularly it causes the increase of economic force of state.

However, certain scholars argue that economic growth also lead to people’s economic welfare that is called human well-being, at the same time it is measured by GAP. Firstly, According to McDonald et al (2010), human well-being conception relates to the quality of people ‘s life, their education and health quality. Shin (1978, cited by Ex., 2010: 21) reported that, many academics of different parts of the world appeared the importance of economic growth for human well-being as well. Similarly, Wang et al (2001) emphasized that, economic growth play a significant role in human welfare due to rise of people ‘s wages.

Apart from these, Haggier et al (2003, cited by Ex., 2010: 22) emphasized that, economic growth is a basic factor that influence on human well-being. For instance, when a country ‘s output and income is poor, population cannot afford their needs (high-quality life style, e. G. Education, health), consequently, they suffer from lack of happiness. Therefore, Shin ‘s study concluded that, economic growth concerns to human welfare, as Haggier mentioned, increasing income raise people ‘s happiness.

Nevertheless, although some scholars show that economic growth causes an increase of human well-being, Stanza et al (2009) claimed that, when a country ‘s population s extremely great, government cannot cope with provide population ‘s needs regardless of considerably economic growth. Additionally, Kohl (2004) stated that, there are many vital economic activities are completely excluded from GAP measurements as well as the costs of crime, growth of prisoners, volunteer work, and reduce of natural resources.

According to Berg et al (2009), GAP is an estimate or measurement of economic growth, as some essential economic activities are excluded from GAP measurement, they are not necessarily lead to economic growth notion. Indeed, Haggier et al mentioned reasonable arguments that economic growth also causes human welfare, however arguments of Stanza et al prove that economic growth slightly lead to human well-being. Hence, it can be concluded that economic growth especially causes the growth in state ‘s economical force, it does not necessarily impact on human welfare.

Turning to the role of economic growth from an environmental and ecological point of view, many arguments which argue about positive effects were mentioned by theorists and ecologists. One of them was claimed by Wallace et al (2008), higher production and developed, high-quality technology play a considerable role for environment and ecology. Simultaneously, Ex. (2010: 21) mentioned that, modern technologies which are established due to economic growth are used in order to settle some ecological problems.

According to the study of Wallace et al (2007), For instance; there are many arid areas in different parts of the world suffer from lack of water shortage. Modern production and recently invented technological installation are valuable to overcome these nature challenges. Furthermore, Fuchs (2010:11-13) stated that, though there was water scarcity in Northern China a few years ago, overall kinds of modern technology were brought to China and now they are used to prevent this problem and revived the environment.

Hence Whereas, definite scholars consider that economic growth appear many negative impacts in terms of environmental which causes harms for people, and this circumstance is considered as weakening of human well-being. Saboteur (1996: 1) reported that, according to some environmentalists and ecological economists, economic growth lead to degradation of the environment. Moreover, the same argument was claimed Warren et al (2001). Technologies develop swiftly and increase TTS kinds, this progress causes air pollution, and therefore world population suffer from lack of clean air.

Additionally, CIA (2008: 1) emphasized that, developed technologies and higher production cause the destruction of green areas, meadows are reduced. As a result of this issue, Warren et al (2001) noted that the degradation of environment is a basic source of human health. As green areas reduce significantly, some leading diseases form in society. Apart from all these Saboteur (1996: 3) stated that, although developed technology save people’s time and lessen their physical labor, this position make them lazy and unhealthy. Cal, X. (2008).

Share this Post!

Kylie Garcia

Hi, would you like to get professional writing help?

Click here to start