Unsustainable economic development | World Problems & Global Issues (2024)

FAQs

What are the problems with unsustainable economic growth? ›

What are the challenges? A persistent lack of decent work opportunities, insufficient investments and under-consumption contribute to the erosion of the basic social contract: that all must share in progress. The creation of quality jobs remain a major challenge for almost all economies.

Protecting the environment from damage due to human activities. Planning smart infrastructure so that the population can be managed properly. Responsible use of information technology to support sustainable development.

Unsustainable economic growth occurs when economic growth causes a reduction in assets and increased vulnerability. For instance, economic activities that cause environmental destruction and inefficiency of waste are unsustainable. Traditional economists use prices to determine unsustainability.

The impacts of rapid unsustainable urbanization are water stress, scarcity, and consumption [27, 28], sanitation, wastewater, water pollution [29, 30], greenhouse gases (GHGs) emissions (climate change) [31], air pollution [29], noise pollution [10], cultivated land depleted [32], urban sprawl [33], dust, solid, and ...

Unsustainable development occurs when present progress is at the expense of future generations. For example, irresponsible planning and environmental degradation through exploitation of resources generates waste and pollution that damages ecosystems. Such practices are not sustainable in the long term.

Examples of such human activities that are unsustainable practices are the unbridled use of fossil fuels, deforestation, and the disposal of non-biodegradable waste, like plastic straws and bags. Rapid population growth could mean increased consumption patterns.

Poverty. Unemployment. Building institutions that follow strong governance. Climate change.

Unsustainable Practices are practices, methods and approaches that simply cannot endure. Eating only Twinkies for breakfast, lunch and dinner everyday is an unsustainable practice.

How to achieve sustainable economic growth? ›

Conserving or replenishing resources may enable a country to reduce its imports and increase its exports. All of this contributes to a country's GDP. Efficient recycling programmes reduce ground and water contamination and the resulting clean-up costs. Reducing carbon emissions improves air quality.

Global warming, destruction of the ozone shield, acidification of land and water, desertification and soil loss, deforestation and forest decline, diminishing productivity of land and waters, and extinction of species and populations, demonstrate that human demand is exceeding environmental support capacities.

One of the major disadvantages of sustainable development is that it can be expensive. The initial investment required to implement sustainable practices such as green infrastructure and renewable energy can be high. This can deter some businesses and individuals from adopting sustainable practices.

If we fail to maintain environmental sustainability, the consequences could be severe. The Earth's natural systems and resources, upon which all life depends, would be threatened. Climate change, pollution, loss of biodiversity, and depletion of #naturalresources would all likely accelerate.

[8] Pollution, fire, the introduction of alien species and illegal trade and hunting – as well as the high incidence of poverty among ever-growing populations – are also major causes of biodiversity depletion.

A sluggish economy is harmful to most businesses since consumers are less likely to purchase their products. It may also have a negative effect on the labor market as businesses are less willing to hire more staff in times of weak economic growth.

Negative Growth in an Economic Context

If a country's real gross domestic product declines for two or more quarters, it is indicative of a recession in the business cycle. Negative growth rates are often accompanied by declining real income, increasing unemployment, and reduced production.