Economics growth has been studied in differences camps. economics,environmentalist and sociologist have been debating years about the causes and effects of this one, it is a fact that economic growth is link with life quality and the first one can affect the secondone in positive and negative ways, this essay will expose a number of advantages and disadvantages of a rapid economic growth.
The concept of “economic growth” 50 years ago was quite different fromthe concept nowadays, before, the concept focus on the industrialization and the economy of the country, until the seventies decade when the professor Dudley Seers introduces the concept with strongconsequences in equality, unemployment rate, etc.
Economic growth, it is describe in different economic dictionaries as “an increase in the capacity of an economy to produce goods andservices, compared from one period of time to another”. And it is an important part in the development of the economy to permit the right utilization of the goods and the improvement of living standards; however,there are some cases that “economic growth” it is not a steeply process making a rapid economic growth which brought some positives and negatives consequences for the society.
One advantage of the“growth”, it is definitely the fact that governments can reduce or eliminate the money borrowing, due to the tax revenue is higher and also there is less money spend on benefits for unemployed people, thenthere is an greater inversion in public services and education, which are important aspects in the measure of the development of a country.
An increasing of outputs because of the growth, will generatethat companies start to employ more and more workers to supply the necessities of the costumer, reducing the level of unemployment and at the same time making higher incomes, giving the...