Some people argue that a country can be economically prosperous without having to damage the environment. Others, on the other hand, believe it is impossible. While it is true that economic growth requires certain environmental sacrifices, I believe that with proper resource management and strong law enforcement, governments can indeed find a balance.
Fundamentally, economy grows because people have constant demands for consumption. A simple rule of supply and demand can in fact explain why it is difficult to maintain a balance between economic improvement and environmental protection. As people’s demands grow, so too does production. Since any production requires energy, fossil fuels are used to produce enough amounts, which directly leads to higher levels of CO2 in the air. Undoubtedly, fossil fuels, particularly coal, are the main contributors to air pollution. On top of this, new factories are built to maintain adequate supply of products, while new houses are constructed to accommodate growing populations. This expansion, however, always comes at the cost of green areas, such as parks or forests, which is another reason why it is challenging to achieve economic prosperity without sacrificing the environment.
Despite these arguments, I am assured that with the right approach, a certain level of balance can be reached. Aforementioned scenario is often true for countries that heavily depend on cheap labor and low-cost production. In contrast, if governments invest more in education and human capital, they can in fact reduce environmental impact. This is because a highly educated population brings more economic value with less environmental damage. Another important step is to make sure environmental laws are strictly enforced and regulated. This requires a high level of governmental intervention and heightened public awareness. Collaboratively, they can demand enterprises to be socially responsible while making business decisions. Scandinavian countries like Norway and Finland are pertinent examples in this respect. They consistently rank highly in environmental indexes, while having high GDP and GDP per capita. This shows that it is not impossible to prosper economically and preserve the environment at the same time.
In conclusion, while there is a debate over whether economic growth and environmental protection can coexist, I think that investment in human capital and regulation of environmental laws can lead us towards this balance.