Dear All,
One article Title: “X – Ray Report of Economic Growth” written by under signed is Published in the journal Finance, Marketing, Investment and Risk [FMIR] by ARMG Publishing, Sumy State University, Ukraine. I hope, you will find it interesting. Your comments and observations are well-come.
Article Abstract [On original article text]:
With regret to say that politicians and thinkers of economic subject use the word “economic growth” in their talks, writings and discussions as if it is the way to achieve peaceful and happy life. When I read the phrase (“economic growth”) in views/debates and articles, I personally feel on its use as if we fool the innocent and inexperienced young generation and mislead them. To whom we say “economic growth” is a helpless inevitable and selfishly selected remedial action/s under situational compulsion by men to postpone the present challenges, to escape from perilous liabilities, to avoid facing hard path and just to secure, continue and enjoy with present comfort at any cost. The actions for “economic growth” suppress the present social issues of challenges and store them to come out in future at any appropriate time and opportunity, rather in more complex and ugly form. I think; we should clearly appraise the emerging youth of our society that every action of “economic growth” not only brings harm to the ecological balance, but the incessant population growth and lust of few people to enjoy wealthy life contaminates the process of natural social evolution. Its consequences reflect in deformed social constitution decorating “economic growth” with illusive mask of “a gate way to heavenly life”.
Link (content Page): http://armgpublishing.sumdu.edu.ua/journals/fmir/volume-3-issue-4/article-8/
Link (Article Text): http://armgpublishing.sumdu.edu.ua/wp-content/uploads/2020/01/8-2.pdf
Pages: 89-93 DOI: http://doi.org/10.21272/fmir.3(4).89-93.2019
With true regards,
Harshad Dave
Email: [email protected]
Not sure on the aspects of innocence, but what is true about Economic Growth is that it is inadequate in measuring and conveying the true economic state of health of a country. The indicators used to measure economic growth, such as GDP growth, or it's per capita derivative, gloss over many challenges of developing economies of countries.
We needn't go so far. Ukraine still has all the above mentioned aspects of this problem. For example the last audio records with the Ukrainian Preime Minister which were leaked publicly in the Internet demonstrate that the phrase "Economic Growth" is just an empty sound.
Dear Wala Chabala,
The spine of my saying is that we should make our fresh generation aware of this fairly and frankly.
Harshad Dave
Economic growth has a positive context in my case I Think in wealth production.
Dear Martha,
What you say is true, and I have never deny the production of means of survival through the activities of economic growth. But, its other flank is hidden. The knowledgeable people are silent on it. I have objected it. The facts and ugly side must be exposed to fresh generation.
Have a nice day,
Harshad Dave
Dear Harshad:
Do you refer negative aspects?
for example:risk Inflation, externalities: noise pollution and lower air quality, traficc.
Economic growth is supposed benefits are higher than costs.
Best regards
Strange that you are concerned about that. And "positive" in economics means "what is".
Gregory,
I think you have not grasped the essence of my article on which the question is founded.
Economic growth, it is a sign of prosperity and expansion. "The "rate of economic growth" refers to the geometric annual rate of growth in GDP between the first and the last year over a period of time. This growth rate is the trend in the average level of GDP over the period, which ignores the fluctuations in the GDP around this trend". source: Wikipedia
Martha,
What you say in your reply is right. But, it is on standard principle/rule of economics.
I should point out to you that my point of question is absolutely on socio economic philosophical side. Rather, it needs a change in your approach to make a scrutiny of my article to reach ultimately to its core.
I fully agree with all advantages and benefits of economic growth. I just only appeal to responsible thinkers of this field not to intoxicate new generation as if it is an innocent and most helpful friend of mankind. Its ultimate repercussions and auditing by nature has commenced and unfortunately our young generation is unaware of it.
In some countries the phrase of economic growth does not have a positive context, this is because they have registered in some years a negative economic growth, measured through the Gross Domestic Product, as is the case of Argentina. Economic Growth (GDP, annual variation in %): -2.5 in 2014; 2.7 in 2015; -2.1 in 2016; 2.7 en 2017; -2.5 (2018). Source: FocusEconomics. In 2019 forecast a drop 1.5.
Yes. Though you can look at Bhutan where they prefer "Happiness Growth" in measuring national progress
It´s nice to know another term "happiness growth", I found this phrase happiness comes from growth, not comfort.
Please go through the para under title "Closing words" of the article and try to look into the present situation due to the pandemic Corona. Do you find the essence of my saying in the "closing words"?
One might advocate the benefits of so called "growth", but.... is it not our duty to look into the reality...."At which cost and with what harm we did manage the growth?"
"Should we hide this fact from our up coming young generation?"
"Is it fair on our part just to tune a trumpet of " benefit" and "happyness" only without revealing the fact of its harm to ecological balance?"
It is not possible to reply such issue logically so easily that you attempt in your answering.
Regards.
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