In: Economics
Is population growth an impediment for economic development? Discuss the arguments in favour and against.
The growth of the population has a positive and negative impact
on economic development that depends upon the circumstances.
i). A large population can be great for economic development
because the more people we have the more work can be done and more
value can be created. So it may be good as farmers generally have
lots of kids which mean more kids and more work.
ii). Unfortunately, this is not so simple. In a rich country which
is having abundant resources and money, population growth can be
good but a country has limited resources and a large population may
put pressure on the existing resources. More population needs more
health care, more food, and educational services and many more
things. Thus the growth of the population can be a mixed bag for
economic development.
The main point is that economic development can be good for
developed countries having abundant resources and money but it
might be a bad sign for developing countries that have limited
resources.