Economic growth presents a complex mix of costs and benefits. On the downside, individuals often face pressure to spend rather than save, which can strain personal finances. There is also the issue of outsourcing production to maximize profits, which can negatively impact local job markets.
One small change we could all make to combat the costs of economic growth is ... instead of investing in any one stock or gadget or any other novelty, we should invest some of our money into our earth so that we may all reap the dividends of a prosperous and sustainable planet for centuries to come.
Costs and Benefits of Economic Growth
Benefits
The trade industry and the economic growth that resulted is what created Canada.
Economic growth for indigenous Canadians could increase GDP by 27.7 billion each year. This would also mean more economic independence for this portion of the population, and more equality in the country.
We do not have to choose between a healthy planet and a strong economy, it is possible to have both through responsibility and innovation. E.X. pipeline projects combined with carbon reduction projects.
Economic growth allows for innovation, innovation that can increase the sustainability of things like our energy sectors. This creates even more jobs while also helping the planet.
Thriving industry, both sustainable and non-sustainable, provide thousands of well-paying jobs around the world. Trade between Texas and Canada creates over 460,000 jobs in Texas alone.
Costs
Economic growth may lead to the outsourcing of production to increase profits and revenue.
Economic growth does not support altruism; we need to support and invest in the ecological heart of the world, and the current economic model does not support that.
The system is at odds with the people; it wants them to spend when they want to save in the name of growing the economy. about. People are pressured to spend more and save less, which can hurt their personal finances in the name of propping up the economy.
People are pressured to spend money they don’t have, on things they don’t need, to impress people and a system they don’t care about.
