What are the cost of economic growth?

While economic growth is often considered to be beneficial strength, the disadvantages of this process can also be quite serious. Economic growth costs can cause considerable damage to some branches of the company, including long -term costs that may not be evident during the growth cycle. The most common cost of economic growth include environmental damage, increasing income differences and opportunity for social and social damage. Although these risks may vary depending on the type and form of growth, and although the benefits can outweigh the potential disadvantages, the cost of economic growth should be considered to support sustainable and manageable growth.

The environment was often an unintentional victim of economic growth. One of the reasons why this may happen is that economic growth tends to lead to the growth of consumerism, which can burden natural resources that were previously sustainable. The threats of animals and plants and extinction are often aside for economic growth. For exampleThe AD population in the 19th century fell to almost invaluable levels after the development of the strong whale oil market as fuel. Even in the 21st century, some of the whales have to recover from the devastating exhaustion of species driven by economic growth.

Similarly, the new development in technology can sometimes have an unpredictable environmental impact. For example, when the inventor Charles synthesized chlorofluorocarbon in the middle at the beginning of the 20th century, he stimulated the economic growth of the revolution in the concept of domestic cooling. Unknown, this huge invention also became largely responsible for serious damage to the protective layer of the o-zones surrounding the Earth and has caused damage for centuries in a few short decades.

While economic growth sounds as if it could be beneficial to everyone, historically the widen gap in income between the poor and the rich has a tendency. With increasing income differences, the definition of CH is expandingUddy, leading to increased pressure on government to create programs that help the poor. In this way, economic growth can actually lead to increased public expenditures, which may eventually abolish increased wealth created by the growth cycle. Increasing income disparity can also lead to increased political and social tension between different population segments.

Social cost of economic growth may be difficult to predict or manage as soon as they occur. As economic growth increases in technology and population, aging social structures can quickly become insufficient to handle the burden of growth. For example, the development of cars at the end of the 19th century is considered one of the largest contributors to economic growth in the 20th century, but also led to a serious burden on the infrastructure on roads, bridges and highways, social stress caused by massive income. Although few would say that AutomoBily is not worth problems, the cost of economic growth can help future inventors and economists understand the need for careful review and assessment in the interest of supporting more sustainable growth in the future.