Exponential Economic Growth

849 Words 4 Pages
A lot has been said about "productivity" since the industrial revolution, but how will productivity fill up the vacuum of fewer people? What about old people who in general are less productive and the Western world are indeed getting older every day. We must accept that we are confined to very low growth rates for a long, long time. Exponential economic growth, with no increase in population means that the current population needs to do one of two things and most likely a combination. 1. Prices will go up which gives a false sense of growth only prices grow not the goods/services 2. People need to consume more, but therefore people need to produce more and if you presume that this consumption is not physical.
We are still restrained by
…show more content…
If the limits crossed then it is a false growth which indicates a kind of poverty. It is because the costs of the products increase with less benefits leading to poverty after the economic growth for that particular period of time. The marginal curve increases gradually and at times Great that discusses world’s economic view centered only in the growth of the GDP without considering well-being factors. Economics and politics are built to ensure one main goal keeps consumption rising to favor economic growth. It proves that after reaching a certain level of economic power, there is no need to obsess on getting more since it does not contribute in increasing human’s happiness. On that sense, it adds that after a certain stage, to help poorer countries achieve the same level of development is healthier to their own developed societies Unequal societies bring depression and anxiety to people. They work hard not to their own well-being, but to acquire things to show to others that they have also importance and status.
Prosperity is the state of being wealthy, or having a rich and full
…show more content…
An example of prosperity is a person who is living a rich and full life with all the money and happiness he needs.
2. An example of prosperity in developing countries is having basic luxuries such as running water and electricity.

Economic tries to develop a new paradigm where happiness is considered when talking economics, and in respect of our finite natural resources. It talks about the conditions we need to flourish as human beings, in psychological and social aspects: the feeling of belonging in the community, of being useful to society, of safety, relationships, main survival needs fulfilled, and so on. It says is not the end of capitalism, is not an invitation to revolution, but to use our already built institutions to broaden our view of what is really important that more liberal societies turn into more loneliness and unhappiness than more articulated markets where there is still a bigger sense of community.
To shorten things in one sentence, the reflection of shouldn’t the economy work in favor of humanity and not the other way around? The most interesting point, environmentally speaking, is a fact that building a greener economy requires allocation of investments, efforts and human capacity that could help in the recovery of the economy T. J. (2009, October

Related Documents