Question

We like to think of growth of output in terms of its measures as being good and hence as desirable. That the composition of output changes over time is a given and is mostly for the better as it means greater efficiencies as well as new industries and products replacing older industries and products in the process known as creative destruction. But is all this necessarily good? It creates instability, uncertainty and in some cases new unique problems as unintended and otherwise unanticipatable consequences requiring redress. In 200 words describe what you think is the downside of growth with respect to workers seeking leisure time, consumers seeking convenience and businesses seeking profits.

Answer 1

Downside of growth with -

More leisure for workers

1. Hamper the overall productivity of worker as now leisure is main motive
2. Rising and growing will not be aim rather easy and relax will be lifestyle
3. Sooner from asset will be liability for company
4. More leisure time means more wastage as that time if had put in Production the level would have increased
5. Even if a particular level is manufactured still the growth will not be there as learning and improving will not be motive

Consumer seeking convince -

1. If convience is focus than , quality analyses done by consumer will be removed as might shift to virtual shopping than actual, skipping to actually to touch and know the quality of product
2. Easy frauds - though consumer will buy products but chances of consumer being fraud by other is more as motive is easiness owing to which they fall for trap
3. Removes market analysis, the basic reason for firms being competitive is due to rational consumers ,as with variety of products in market substitution is easy but to facilitate easiness such process also removes
4. Blocks view of other aspects also, many a times in order to save time people just do online shopping or just try one or two shops as a result make them not see the large market where much of products are available and at competitive prices
5. Exploitation is Maine dark side of marketing ,many a times not required products are given with needed products at lower price but as in combo , will rise the cost

Business seeking profits -

1. Goal will be to increase profit margins making consumer fool
2. Leaving social responsibility, as it also adds certain costs and reducing it would help to retain money
3. Employees will also be harassed , as they may not get pay equatable to there work
4. Unethical practices as monopoly , crushing Competition, doing wrong advertisement etc are done to grow sales
5. Though sales number would rise but quality numbers might decline in order to reduce quality to have higher profit margin

Conclusion :

Growth is an aspect which is different from development , just by inceasring the growth of money or who make there own house big, in name of growth with above given points socially and otherwise it will actually hamper the whole process of development and somewhere push growth

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