In today’s fast-paced world, it is contended that economic growth plays an important role in reducing poverty, while others believe that it results in an environmentl damage. This essay will discuss both these views and argue in favour of the former.
On the one hand, economic development minimizes natural resources. To clarify, not only do natural environments, provided that they are shrunk as a result of an urban expansion, tend to lose their biodiversity, but they also deteriorate due to human activities , which leads to environmental issues such as pollution and deforestation. Should people continue expanding cities, they are likely to cause harm to natural habitats. For example, it is often reported that in Kazakhstan, one of the most rapidly advancing countries, the majority of natural habitats, due to ecomic development, tend to be replaced by residental ares, which results in the loss of biodiversity. Therefore, economic development should be stopped in order to preserve green areas.
On the other hand, economic development increases individuals’ standards of living. To provide further explanation, not only do the governments, since they construct factories, tend to hire a significant proportion of people, thereby lowering unemployment rates, but they also rise incomes, which provides people access to many facilities such as healthcare and education. As a result, poverty rates decrease considerably. For instance, it is frequently reported that in Singapoure, one of the countries which experienced a rapid development in the last decades, a high rate of citizens, due to quality healthcare and education, tend to have enhanced well-being.