Many countries experience a high rate of growth but still have many poor people, living in...

Many countries experience a high rate of growth but still have many poor people, living in poor and environmentally deteriorated conditions. Discuss and explain the concept, its limitations and compare and contrast it with other such concepts (note these other concepts will need to be searched online and discussed briefly). Explain this using only macro economic concepts.

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Question - Many countries experience a high rate of growth but still have many poor people, living in poor and environmentally deteriorated conditions. Discuss and explain the concept, its limitations and compare and contrast it with other such concepts (note these other concepts will need to be searched online and discussed briefly). Explain this using only macro economic concepts

Answer - Economic growth is one of the most useful and powerful tool for reduction of poverty and thus improving the standard of living in the developing countries .The case studies shows that the rapid and sustained growth is very critical in making a faster progress towards the goals of UN for poverty reduction i-e Millenium development goal of having the global proportion living on less than 1 dollar a day .Growth improves the incentive for the parent to invest in thier children education by send them to the institute , which may leads to make them entrepreneur ultimately good governance.Strong economic growth is the reason for advance human development and ultimately strong economic growth.It is true that in some countries especially developing country that the high growth is there but still some peope live in poverty and vulnerable condition , this is because of the population growth rate continously with the parallel economic growth , if the populastion is very highly increasing comparable with the hiugh economic growth it leads to a constant ratio.It is possible that the growth is seems to be high but it do not guarantee a standard living to all infact growth is a consideration in economy which is not measure of the population .The only limitation is that when there is parallel increase population , there is be grwoth where poor people will be seen and deteriorate envt. condition wil be there.

HAVE A GOOD DAY !

Rahul Sunny answered 1 year ago

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