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Economic Growth – Band 8 Essay

ByGurpreet Singh

Jun 3, 2020
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Some people say that economic growth is the only way to end world poverty and hunger. Others say that economic growth is causing damage to the environment and should be stopped now. Discuss both views and give your opinion.

Nowadays, a lot of us can see the reality, developed countries have less beggars and thieves whereas developing or underdeveloped countries have a bunch of them. This indicates that higher GDP, also called as economic growth, is the ultimate solution towards the reduction of poverty and helping the underprivileged people to come at par with the normal society. However, in the process of increasing the economic output the environment is destroyed as well. I believe that selecting the route to enhance the economic expansion is necessary as environmental problems can be solved in the course of pursuing economic enlargement.

There are a number of drawbacks of pursuing extension, such as deforestation, oil mining and many more. These damages the Earth and it eventually comes back to us in the form of air pollution since the number of trees is reduced than before. Mining of crude has led us to laziness - Iran, for example, had earned plenty of money by selling oil. This brought them to be dependent on black gold, not preparing for the future, the fuel is a gift but also a double-edged sword. Furthermore, Ozone Layer is being damaged by our human activities during the routine of producing the output. Factories consistently emit harmful gases and the result is miserable, making a massive hole in the ozone layer and letting the harmful rays from the sun to interfere with the Earth's atmosphere while causing diseases such as Skin Cancer. Lastly, the CO2 that has been produced by us had reached the limit of the Earth's air circulating system in 2011 - in fact, it went beyond during the same year. From then on, the Earth's temperature has been continuously going up even today. Referring to the scientists in the US, the Earth will become uninhabitable within the next 150 years since the temperatures are rising consistently.

Despite these environmental problems, economic sustainability of industrialization should be continued as a country can develop by industrialization, which will bring better technology and alternate solutions to solve ecological issues. In addition, being a developed country provides other benefits such as opportunities for better education, higher per capita income and more public places. To gain finance, industrialization is necessary. Therefore, environmental concerns can be solved as we consistently pursue economic growth. In this procedure, poverty and hunger will be settled which means we can hit two birds with a single stone. Moreover, if we suddenly stop all economic activities, mass problems, bigger than environment will emerge for instance, sudden increase of unemployment and primitive age.

In conclusion, green issues are truly enormous and the world has to strive as much as it can. However, in order to clear up the mess what humans did, finance is essential and this can be gained by funding the industries.