Macroeconomic Tradeoffs

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the use of these non-renewable resources which means that in the future if an economy is still reliant of non-renewables, resources will start to become scarce. As well as this economic growth can damage the environment as increases in production leads to new factories which can raise the level of air and water pollution as well as destroy ecosystems. Furthermore, economic growth increases the amount of waste that needs disposing of which can put additional stress on an economies waste disposal system which will further reduce an economies sustainability.

Economic Growth and Equality

In most advanced and developing nations income inequality is highly prevalent as not everyone benefits from a growing economy. In corrupt nations, an increase in economic growth would only profit politicians as profits will be syphoned into their accounts leaving the rest of the population with no impact from any economic growth. Even in countries with low corruption, inequality is still present ...

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