You decide: should economic growth be a goal? | Chroniclers

So who is right, the growth advocates or the growth doubters? Or, is there a happy medium?

Proponents of growth argue that there is a need to increase the size of the economy in a country with a growing population that wants higher standards of living for its residents. With more people, more jobs are needed, more products and services have to be provided, and therefore more expenses will be incurred. In addition, to improve their way of life, workers will work in professions with higher wages, which in turn generates even more expenses.

Advocates of growth respond to some of the complaints of skeptics of growth by emphasizing a simple fact. Countries with higher living standards tend to spend more to create pollution reduction technologies, develop improvements in health care, contribute to charities, and provide wider “social safety nets” for people. in trouble.

It’s logic. As economic growth pushes the standard of living to a higher standard, societies may shift away from focusing primarily on staying alive to concern themselves with broader issues like pollution and the environment. In addition, richer societies will have more income and available wealth to devote to these problems.

While growth skeptics may recognize these benefits of faster economic growth, they say it’s not enough. In rich countries, roads are still congested, pollutants continue to be released into the air and water, landings are blocked by discarded produce, and open fields are replaced by housing estates. Growth skeptics fear that the future will always be threatened by economic growth.

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