The Correlation Between Economic Growth And The...

One of the most highly controversial topics of our time has been about the environment, whose quality is not indicated in the measure of GDP. Some scholars say that there is nothing wrong with our current natural ecosystem and that we should not worry, other scholars say that we should be more concerned about our environment today than we ever were. Many studies were done to validate both these hypotheses which left people divided, but it is always better to be safe than sorry. Economists have found the correlation between economic growth and the deterioration of our environment: â€Å"In the quest for high rates of GDP, the human cost of producing goods and services is not set against the market value of those items.† (Mahadea and Rawat, 2008). In other words, there is a constant trade-off between sustaining economic growth and maintaining the natural ecosystem. As stated earlier, producers are unwilling to give up their opportunity to gain more profits for the sake of sustai nability. We should understand the insignificance of overproducing and having a high GDP if in actuality the living conditions are not as good as the GDP depicts it. Economists D. Mahadea and T. Rawat investigated the relationship between economic growth and happiness in which they found that although being rich does make an individual happy, this extra income would not have the ability to purchase happiness once an income threshold is reached, especially in developed countries. They concluded thatShow MoreRelatedThe Reciprocal Relationship between Economic Development and Human Rights1218 Words   |  5 PagesThe Reciprocal Relationship Between Economic Development and Human Rights Recent years and the continued spread of globalization have illuminated a frequent connection between the process of economic development and the deterioration of human rights. 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TheRead MorePhilippines Underdevelopment5539 Words   |  23 PagesCHAPTER I INTRODUCTION For more than years, Philippine is saddled with huge challenges on how to find a concrete strategy to cope up economic depression, mainly the main reason that analysts could see is the drastic population density that leads to various implications like poverty (the main symptoms of having overpopulation and every country’s problem that almost all cannot resolved), poor governance that results rampant corruption from public officials, colonial mentality also blocks progressionRead MoreThe Capital And Recurrent Expenditure On Human Capital Development3676 Words   |  15 PagesUzochukwu Uchechukwu (B.Sc) Email: uzlutus@yahoo.com Izilein, Elizabeth I. (Mrs) Ph.D Department of Economics and Statistics, University of Benin, Benin City Email: eiokojie@gmail.com, elizabeth.izilein@uniben.edu, eiokojie@yahoo.com ABSTRACT This paper seeks to compare and contrast various trends in the capital and recurrent expenditure on human capital development in Nigeria between the years 1981 and 2010. The data used for the study are from secondary sources: Central Bank of Nigeria