Economic growth and the environment

Economic growth and the environment

Economic growth authenticates the welfare of human beings. In spite of its limitation in addressing all components of human welfare, it is a measurable index for indicating progress of societies. The industrial growth rate of a country is essential in indicating the position of a country in the world markets and in the ranking of human prosperity. An economy depends upon the industries for its growth. The industries, however, depend on the environment for raw materials. The antagonism between economic growth and environmental welfare lies in the fact that industries are tools for human progress rather than measures for improving the environment. Powerful social movements have always warned that economic growth compromises on the environmental states. In as much as such social movements are pessimistic about economic growth, economic progress can occur responsibly without interfering with the environment.

Governments enforce corporate responsibility measures that bar companies from interfering with the environment. Corporate responsibility programs ensure that companies conduct their activities ethically. This idea emanated from the realization that profit-making activities of business entities are, sometimes, not in synchrony with the welfare of communities. Corporate responsibility issues form the foundation upon which companies become liable for interfering with the environment. For instance, governments create disincentives for companies to create pollution by installing pollution charges (Booth, 2004). This means that companies cater for the costs they create to communities through pollution. The government redirects such fees into environmental sustenance programs such as planting of trees.

Recycling is an instrumental way of mitigating the depletion of raw materials by industries. Recycling refers to the processes of manufacturing new products from used materials. This means that the used materials act as the raw materials. This reduces the regularity upon which industries turn to the environment for raw materials. Recycling is effective in materials such as polythene papers and metals. For instance, car companies participate in recycling to limit the amount of metals they use on automobiles. Recycling polythene is essential in limiting the environmental effects associated with the non-biodegradable properties of the given materials. This helps in reducing the size of world’s dumpsites.

Green technology is a revolutionary movement in the face of rapid environmental damage. Green technology is an innovative sense of living that creates a balance in the ecology (Bruyn, 2000). For instance, renewable sources of energy are safe alternatives for oil fuels. Oil fuels are responsible for a great deal of pollution in the world. The world is dependent upon such fuels for operating automobiles and running factories. A renewable form of energy such as wind-power is critical for saving on fuel. The creation of hybrid cars is helpful in preventing the use of petroleum products for fuel.

It is discernible that societies can encourage economic growth without interfering with the environment. Economic growth is addictive such that it compromises on ecological aspects of the environment. This poses adverse consequences for the environment as industries depend on the Earth for its resources. Governments enforce corporate responsibility measures for ensuring that business entities operate ethically. For instance, pollution fees are vital in creating disincentives for companies to destroy the environment. Recycling is an effective way of preventing the depletion of resources. Recycling involves manufacturing new products by using used commodities as raw materials. Green technology is a revolution in the face of rapid environmental damage. By creating alternative fuels to petroleum products, the world mitigates poisonous emission. In the end, the human population has to tame economic progress by maintaining ecological balance in the environment.

References

Bruyn, S. M. (2000). Economic growth and the environment: an empirical analysis. Dordrecht, GR: Kluwer Acad. Publ.

Booth, D. E. (2004). Hooked on growth: economic addictions and the environment. Lanham, MD: Rowman & Littlefield.