Essay Sustainable Development 1 – The Gross Domestic Product Growth Strategy – Economics Assignment Help

Assignment Task:

Purpose:

To critique the Gross Domestic Product growth strategy used in the mainstream economy to measure progress. 

Problem Statement:

It is vague or ambiguity in terms of the relationship between the social justice, ecology, and economic goals of sustainable development This often leads to misinterpretation or abuse of the term sustainable development.

The current economic growth model is about massive outputs, consumption, profits, job creations, spending and revenues generations for governments through taxes. Development is still defined by increased gross domestic product. The generated taxes are used by the public sector to initiate infrastructure projects and service delivery to the people. The consequence of this arrangement is that the rich become richest and the poorest become poorest. The poor people are still left with social issues like inequality, poverty, exclusion, no justice, poor quality of food and education. This model doesn’t take any environmental issues like over consumption, degradation, carbon emissions etc into account as their mass productions and outputs are mostly from fossil fuel industries. The economic perspective of growth enables those with money to exploit the resources for their enrichment while the poor and the environment suffer. There is also increased risk of collusion and corruption between the governments and those businesses. The improper relationship leads to policies that will maintain the status quo.

Methods: Different literature review, published reports and own experience to explain different paradigms used in the assignment.

Results: Correlation between inequality, poverty and mainstream economic growth.

Conclusion: The vagueness in how the social, ecology and economic perspectives relate to one another in sustainable development leads to the exploitation of the environment and the poor by those with money.