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  • Essay / Economic Growth and Consumption - 1362

    Question 2Consumption and economic growth are the only two effective economic goals worth pursuing in a modern globalized society. Do you agree? Consumption and economic growth are similar. In this essay it will be argued that economic growth and consumption are unsustainable, detrimental to the environment and have a negative impact on human health and development and are not goals worth pursuing in our society modern globalized. An expanding society is neither sustainable nor environmentally friendly and harms the quality and health of human life. The act of consumption, which consists of using goods and services, and the concept of economic growth, which can be defined by the stable increase in the productive capacity of an economy, are not the only economic objectives that deserve to be continued in our modern globalized society which is a process of ā€œinternationalization, liberalization, universalization, modernization and deterritorializationā€ (Niski M 2012). The act of consumption in economic terms is a process by which a consumer spends money on goods and services, consumerism is a social and economic belief that encourages and imposes the consumption of goods and services in large quantities. In a capitalist society like Australia, based on economic growth, a consumerist society could be seen as beneficial to the expansion of a country's economy. That being said, this should not be a major economic ambition, as excessive consumption is an unnecessary recreational activity that plunders the Earth's natural resources and is based on an unsustainable principle. The planet we live on is very similar to all the planets in the universe in that it is finite, meaning there is a limit... middle of paper ... the amount of finite resources they must rely on and sustain themselves. Works CitedBarr, B. (2012). Suicides associated with the 2008-10 economic recession in England: analysis of time trends. Available: http://www.bmj.com/content/345/bmj.e5142. LastFrank, J. (2013). Video: Stars in the Mist by Joshua Frank. Available: http://www.chinaairdaily.com/#Guangzhou#2013-11-01. Last accessed November 1, 2013. Questions and answers on fine particles (PM 2.5). Available: http://www.health.ny.gov/environmental/indoors/air/pmq_a.htm. Last accessed November 1, 2013. Niski, M. (2012). Globalization and environment: the challenge of reconciling human economic activity with environmental management and protection. Available: http://economyandsociety2012.pbworks.com/w/file/fetch/70147345/%20%E2%80%9CEnviron%20%2B%20globaliz.ppt%E2%80%9D.pdf. Last consulted on November 12 2013.