Question

One recent survey of cell phone usage around the world showed that only 4 percent of people in countries like Uganda and Ethiopia have access to a smartphone. Explain how this presents an opportunity for these countries to attain faster growth.

What are the likely costs of economic growth?

Suppose that you are currently getting your undergraduate degree and are considering going on for a graduate degree. You expect that once you have your graduate degree, your income and your economic output will be significantly higher than it otherwise would be. What is the primary cost of going on to get this additional degree?

Should you be opposed to economic growth if you favor taking significant steps to protect the environment?

Answer 1

Since only 4 percent of the people in these countries own smartphones, there exists massive potential to be exploited for growth since developing a communications network in the country not only creates jobs in multiple sectors like the telecom sector, manufavturing sector and the service industry. The existence of robust communications infrastructure means that information flows freely and it flows faster than ever before.

The cost of this growth can be cultural since movement into the information age means that a lot of traditons are lost.There exist several social costs as well in the form of spreading of false information, incitation of hatred and bullying and the increased possiblity for cybercrimes and the need for a taskforce to combat them.

The primary cost of going out to get this degree is the opportunity cost of income I lose out on while studying and the cost of the education itself.

Not really, since sustainable economic growth with ribus environmental protections is possible.eg- Bhutan