Sustainable Growth and Economic Development - 1094 Words

Economic growth has been used with other terms such as development, modernization, westernization and industrialization. It is, in other words, a transition from a simple, low-income economy to a modern, high- income economy. Its scope includes the process and policies by which a nation improves the economic, political, and social well-being of its people. Though it is often measured by rate of change of gross domestic product, it is generally understood in terms of increase in per capita income, and attainment of a standard of living equivalent to that of industrialized countries. Economic growth implies a change in the way goods and services are produced, not merely an increase in production achieved using the old methods of†¦show more content†¦There are other views that consider environmental and social challenges as opportunities for development action. This is particularly true in the concept of sustainable enterprise that frames these global needs as opportunities for private enterprise to provide innovative and entrepreneurial solutions. This view is now being taught at many business schools in the West. Sustainable development is said to set limits on the developing world. It is being argued, while current first world countries polluted significantly during their development, the same countries encourage third world countries to reduce pollution, which sometimes impedes growth. Sustainability requires that human activity only uses nature s resources at a rate at which they can be replenished naturally. Theoretically, the long-term result of environmental degradation is the inability to sustain human life. Such degradation on a global scale could imply extinction for humanity. In the Indian context, infrastructure development is critical for sustainable growth. It is often noted that poor infrastructure—a lack of water and sanitation, shoddy roads, and unpredictable energy supply- constrains foreign direct investment and overall economic potential. A key issue is of attracting private investors willing to participate in infrastructure projects given their complex and risky nature. Cases of corruption andShow MoreRelatedThe Between Science, Policy And Sustainability1103 Words   |  5 Pagesthat there are limits to growth is not new to science. The debate that exponential population growth and economic growth, coupled with natural resources depletion, cannot be sustained has started already a few centuries ago with a ground-breaking publication: â€Å"Essay on the principle of population† Thomas Malthus in 1798. With more scientific knowledge developed around this debate, a reverse strategy was formed on the international political agenda called Sustainable Development, and nowadays became aRead MoreThe Concept Of Sustainable Development Essay1654 Words   |  7 PagesThe concept of sustainable development is generally understood in two similar but differing perspectives. The first of these is the social-scientific definition explicated most frequently in relation to the 1987 report of the Brundtland commission.1 This report defines sustainable devel opment as our â€Å"...ability to make development sustainable—to ensure that it meets the needs of the present without compromising the ability of future generations to meet their own needs†2. The second perspectiveRead MoreSustainable Development : The Definition Of Sustainable Development1432 Words   |  6 Pagesterm sustainable development has gained a lot of attention, however, it has since been overused to a point of saturation where it has lost the influence it previously elucidated and become a jargon for developers and slogan for environmentalists. What does sustainable development mean? For years scholars have tried to define and articulate the concept of sustainable development which has led it to become an oxymoron of sorts. Over a century before the use of phrase sustainable development cameRead MoreAchieving Sustainable Development Within Developing Countries1252 Words   |  6 Pages Achieving sustainable development within developing countries is one of the greatest challenges facing the international community today. Developing countries are the most vulnerable to environmental concerns and are the least able to address them due to their lack of capital and technology. Environmental concerns such as climate change combined with economic concerns such as poverty create a negative cycle which makes it increasingly difficult to solve either problem. With the adoption of the ParisRead MoreHigh Efficiency Technology And Its Impact On Economic Development1407 Words   |  6 Pagescommonly associated with large-scale industrial economic development. In the past, large loans to governments to address this need have often resulted in misuse of funds from a social and environmental perspective. Microloans a ssist in the purchase of drip irrigation systems and the provision of funds to train labor in low/no-till farming practices allow the advancement of farming in an ecological way. Guy Vincent focuses on sustainable development relative to individuals who are caught within theRead MoreOverview of Sustainable Industry in Malaysia.655 Words   |  3 PagesOverview of Sustainable Industry in Malaysia. The 2014 was a huge success to government which a total 396.61MW of renewable energy approved by the Sustainability Energy Development Authority and its represent a total 466% year-on-year growth. The increase of the renewable energy represent years of planning and execution by relevant authorities to regulate and draft policies that suits Malaysian environment. As sustainable industry and climate change are interrelated, often the regulation and policiesRead MoreCritically Assess The Concept Of Sustainable Development Essay1661 Words   |  7 PagesCritically assess the concept of Sustainable Development The concept of sustainable development is generally understood in two similar but differing perspectives. The first of these is the social-scientific definition explicated most frequently in relation to the 1987 report of the Brundtland commission.1 This report defines sustainable development as our â€Å"...ability to make development sustainable—to ensure that it meets the needs of the present without compromising the ability of future generationsRead MoreSustainable Development1618 Words   |  7 PagesQ. Sustainable Development? Ans:. Sustainable development refers to a mode of human development in which resource use aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but also for generations to come. The term sustainable development was used by the Brundtland Commission which coined what has become the most often-quoted definition of sustainable development: development that meets the needs of the present withoutRead MorePublic Discourse Surrounding Conceptions Of Sustainability Definitions And How That Impedes The Development Of A Sustainable Society1651 Words   |  7 PagesPublic Discourse Surrounding Conceptions of Sustainability Definitions and how that Impedes the Development of a Sustainable Society Nicholas Dawson 9/14/2015 University of Southern Queensland Student Number: W0025726 â€Æ' The definition of sustainability varies widely depending on the context in which the concept of sustainability is used. As Herman Daly (1996) put it, â€Å"Sustainable development is a term that everyone likes, but nobody is sure of what it means. The term rose to the prominenceRead MoreThe Poverty Of The United States1531 Words   |  7 PagesPoverty? â€Å"). From sea to shining sea, more than 15 percent of the American population live in poverty, a total of people over 46 million. Many who live in poverty within the United States live in areas that were once thriving from the country’s economic growth that are now only sad remnants such as the Deep South and Rust Belt cities. The history of poverty in America is nothing recent by far, yet the thought and actuality of a rise in poverty levels in such a wealthy country has been alarming to notice