Economic prosperity is argued to address global concerns such as destitution and food scarcity. At the same time, opponents argue that development in the name of an economic boom is detrimental to nature and should not be practiced. This essay intends to discuss both views, and I firmly believe in striking a balance by adopting sustainable, eco-friendly practices.
Economic progress undeniably assists in tackling the problem of impoverishment and lack of food across the globe for numerous reasons. Primarily, an economic uprising is a determinant factor in fulfilling the necessities of living. With economic progress, food security is ensured as individuals have financial sources such as jobs, to fulfill monetary needs and basic amenities. Secondly, economic growth also brings literacy thereby enabling people to break free from the bondage of poverty, consequently assisting them to escape the vicious cycle of poverty. In a global survey, among the top 10 economically sound nations, nations at the top have a higher literacy rate and higher standard of living than at the other end.
However, with globalization, an economic boom is considered a need of the time. Unfortunately, in the name of economic growth, natural resources are plundered, and habitat destruction is done on a large scale which should be prohibited. Materialistic industrialists and entrepreneurs often neglect environmental considerations and violate environmental laws and regulations. This situation is particularly prominent in developing economies such as India, where natural treasures are abundant but for the sake of economic progress are exploited, and unsustainable practices are employed, necessitating a need to strictly discourage such behavior and penalize the guilty.
To conclude, although economic growth is the only way to curb poverty and hunger, its negative impact on an ecosystem system should not be taken lightly. Therefore, balance is key, and environmentally sustainable