Question

In: Economics

1. What do you think about our current production and consumption patterns? How does a product's...

1. What do you think about our current production and consumption patterns? How does a product's life-cycle influence sustainability?

2. How might continued economic growth (in terms of increased GDP) impact the planet? Are there viable alternatives (e.g., GPI, green consumerism, de-growth, circular economy) to this trajectory? What might be the role of innovation and technology in achieving economic sustainability?

please no handwriting

Solutions

Expert Solution

1. Current Consumption and production process leads to the direct creation of environmental pressures from the use of products and services, for example, through driving a car or heating a house with fossil lifecycle sustainability is an approach to managing the stages of a product's existence so that any negative impact on the environment is minimized.

For example, if materials are chosen with an eye to reuse, that will increase the sustainability of the practices at the end of the product's usable life.

2.Economic growth means an increase in real output (real GDP). The environmental impact of economic growth includes the increasedconsumption of non-renewable resources, higher levels of pollution, global warming and the potential loss of environmental habitats. Yes, there viable alternatives (e.g., GPI, green consumerism, de-growth, circular economy) to this trajectory. Innovation and diffusion of new technologies are indispensable for economic growth. They lead to increased productivity and to the creation of wealth and economic well-being, including decent and green jobs. This is essential for creating an enabling environment for inclusive and sustainable economic growth.


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