Relationship between economic growth and sustainable development

relationship between economic growth and sustainable development

The relationship between economic growth, human well-being, and the and Development (WCED), which defined “sustainable development” as a process. From Economic Growth To Sustainable Development . we must find a balance between the three pillars in relation to being viable, equitable. Even when more exacting definitions of sustainable development are offered, confusion still persists because of honest scientific disputes and.

The drive to industrial development was based on the increasing use of fossil fuels, raw materials, synthetics and chemicals such as pesticides, DDT etc.

This rapid consumption and production drive placed great pressures on the environment through overexploitation and depletion of resources, accumulation of CO2 and greenhouse gases in the atmosphere, pollution, and destruction of eco-systems.

From Economic Growth To Sustainable Development

Therefore, one can infer that issues arising in the environment are as a result of both the lack of development and the consequences of economic growth in the countries of the world WCED,p. Economic Growth Therefore, when we think in terms of economic growth, we realise that growth is the major economic goal of many nations McConnellp.

relationship between economic growth and sustainable development

Thus, as a goal, a Nation that can achieve economic growth will be better suited to meet the wants of individuals and resolve socio-economic problems such as poverty McConnell In addition, economic growth can possibly even protect the environment by the creation of parks, reserves, and implementation of key policies.

Consequently, some economists have argued that economic growth will eventually lead to an improvement in the environment. This may be so, but the more rapid our growth, consumption and the use of our Natural Capital Resources, the more waste we produce, the more prone we are to environmental degradation and exhaustion.

  • Analysis of the Relationship Between Sustainable Development and Economic Growth
  • Economic Development and Sustainable Development

Thus, with economic growth as our goal it is likely to overshadow environmental concerns, placing the environment in the back seat while focus is towards gaining wealth. However, despite this, it is interesting to note that when a country achieves a high standard of living, the people attach value to environmental amenities.

In other words, as people become wealthier, they have more time to think about other things than their survival; and with this wealth can influence governments to improve the environment. For example, it is only after industrialised countries achieved their economic objectives that they began to focus on the environmental problems they left in wake on their drive for growth Serageldin In the whole process, it is important to understand, that economic growth is not synonymous with economic development.

relationship between economic growth and sustainable development

What this actually means, is that economic development is the advancement of economic wealth of a country, aimed at the overall welfare of the citizens.

Achieving overall welfare is accomplished through improving the quality of life, measured by life expectancy, literacy, gross domestic product GDP and so forth. While in comparison, economic growth measures in a narrower context using only GDP. Hence, we must consider when it comes to economic growth these points: Striving for growth now, which leaves in its wake environmental degradation.

relationship between economic growth and sustainable development

Or 2 Should we realise the value of our environment today and the benefits for tomorrow, as it contributes to the overall progress of our economies? This is a hard decision, as the promotion of economic growth is seen as the way to lift developing countries out of poverty and improve our standard of living.

relationship between economic growth and sustainable development

Nevertheless, we must stop and ask, what are the effects of economic growth on the environment? Many have asserted that even if wealthy nations are able to reduce pollution, economic growth will impose increasing stress on ecosystems. Moreover, the total impact on the environment can be expected to increase as a function of the GDP.

From Economic Growth To Sustainable Development – Sustainability X™

That is, as GDP increase, the impact on the environment heightens, based on the type of economic activity such as tourism, where tourist remove things from the environment for keepsake corals ; or overfishing of marine resources and other activities within Agriculture, Forestry, Mining etc. Environment may be defined as the sum total of all natural factors that directly influence the chance of organisms plants, animals, human beings to survive and reproduce.

The environmental factors that influence the life on earth may be broadly classified as abiotic and biotic components. Abiotic component includes the climatic factors related to aerial environment.

Soil conditions, topographic factors. Biotic factors include living organisms like plants, animals and human beings.

Analysis of the Relationship Between Sustainable Development and Economic Growth

Nature has maintained a fine balance among the various components of environment to enable the plants, animals and human beings to survive and reproduce. But during the course of economic development, this balance of nature got distributed which is termed as environmental crisis. Meaning of Sustainable Development: Simply speaking sustainable development means the development which should keep going.

relationship between economic growth and sustainable development

Ordinarily speaking, it is a situation in which economic development does not decrease over time, Sustainable development is the development that is everlasting. Sustainable development is a process in which natural resource base is not allowed to deteriorate.

Sustainable Development And Economic

Relationship between Environment and Sustainable Development: As development involves some disturbances in our environment, sustainable development has to be understood as an endeavor to minimize the rate of environmental degradation. It ensures that however small a degradation that does occur is made up in the best acceptable form and as fast as possible.

Sustainable development is one which raises national and per capita income by keeping the environmental damage within a tolerable limit so that the future generation will get equal benefits in terms of output and congenial environment.