Question

Explain how economic growth is measured and how and why economists such as Nicholas Stern argue that there might be a conflict between the policy objective of growth and the policies to deal with the problems of climate change?

Word Limit: 200 words

Answer 1

Economic growth is measured by the change in GDP or per Capita income. Usually, it is measured by the increase of GDP or per capita. Economic growth is also measured with the rise in the productive efficiency in the economy and the rise of rate of return of the investment in the economy so in this case if we talk about the sustainability of the environment or the social welfare or the welfare related to environment and the protection of environment then in this case the economy growth is not in support of the favourable climatic change the situation in the economy .

They gonna miss like Nicholas Stern argue that there might be a conflict between the policy objective of growth in the policies to deal with the problem of climatic change gears the statement of Nicholas Stern is absolutely right that if you talk about Situations like climatic change then there is a possibility of reduction in the economy growth because but the concept are contradictory if you talk about the high economic growth in the economy then it is not possible to sustain all the resources according to the climatic situation and the positioning .

The mean and the most important objective of all the economy in the world is to maintain the economic sustainability and to maintain the climatic conditions aren’t you protect the environment with the proper economic growth as per the economic planning but it is always a matter of conflict that economic growth cannot be successfully implemented with full strength when we talk about the protection of the environment and to sustain the climatic condition.