It is an issue of controversy over the impact of economic development. While several people suppose that economic growth is the only way to end poverty-stricken areas in the world, others believe that it can give rise to environmental degradation and should stop. However, I endorse an opinion that its benefits outshine its drawbacks.
On the one hand, there has been a significant improvement in the quality of life in developing economies. Firstly, thanks to economic growth, the government would have a tendency to invest an astronomical amount of funding in public services , residents can get access to multiple-high quality public services such as healthcare, education. As a result, this can create a good condition for them to improve their living standards, followed by a higher state of satisfaction in their lives. Furthermore, it is clear that there are more professional as well as promotional opportunities in development economics which might allow people to land stable jobs and earn lucrative incomes. Therefore, they are able to not only shoulder finance burdens with ease but also stand a higher chance of escalating the career ladder.
On the other hand, the exuberance of economic expansion can give rise to deleterious effects on the environment. To begin with, rapid industrialization frequently could induce increased emissions of greenhouse gases and other pollutants, which can severely compromise air quality and contribute to climate change. Additionally, the pursuit of economic profits may encourage exploitative practices such as deforestation and overfishing, undermining biodiversity and depleting natural resources. Consequently, policymakers would face the challenges of balancing economic development with environmental stewardship.
In conclusion, although economic development can give rise to an array of downsides correlated with environmental deterioration, I suppose that economic expansion remains a paramount factor in the battle against poverty and hunger.