Many people make the assumption that the production of more and more goods is always a good thing for all economies. They say that this growth generates wealth, not just for the wealthy few but for all strata of society. They argue that increasing production brings immediate benefit to rich industrialists but that, in turn, they provide employment for, and buy goods and services from, other less wealthy people in the community. Also, it is argued that the wealthy individuals will pay more in taxes and thus the money from growth will benefit everyone, through improved health and education, and that a happier, more stable and more developed society will result.
However, other people argue that such growth in production can have the opposite effect. They contend that any riches tend to be claimed by the few and trickle down to very few others in the community. Also, wealthy people know how to use a variety of devious measures to evade paying tax. Another argument against such growth is that even if this wealth does filter down to all citizens it does not, in itself, bring about a better society. Instead, it can produce a consumerist mentality which draws a simple equation between having ‘things’ and being happy. This is bad for the moral and spiritual life of the country and also can damage the environment as people want more and more objects, creating pollution through production and disposal of waste.
On balance, I feel that a compromise position is the healthiest one – some economic growth should be encouraged as long as there are safeguards intended to ensure fair distribution of wealth and reduce the negative impact on the environment.
Many
people
make
the assumption that the
production
of more and more
goods
is always a
good
thing for all economies. They say that this
growth
generates wealth, not
just
for the
wealthy
few
but
for all strata of society. They argue that increasing
production
brings immediate benefit to rich industrialists
but
that, in turn, they provide employment for, and
buy
goods
and services from, other less
wealthy
people
in the community.
Also
, it
is argued
that the
wealthy
individuals will pay more in taxes and
thus
the money from
growth
will benefit everyone, through
improved
health and education, and that a happier, more stable and more developed society will result.
However
, other
people
argue that such
growth
in
production
can have the opposite effect. They contend that any riches tend to
be claimed
by the few and trickle down to
very
few others in the community.
Also
,
wealthy
people
know how to
use
a variety of devious measures to evade paying tax. Another argument against such
growth
is that even if this wealth does filter down to all citizens it does not, in itself, bring about a better society.
Instead
, it can produce a consumerist mentality which draws a simple equation between having ‘things’ and being happy. This is
bad
for the moral and spiritual life of the country and
also
can damage the environment as
people
want more and more objects, creating pollution through
production
and disposal of waste.
On balance, I feel that a compromise position is the healthiest one
–
some
economic
growth
should
be encouraged
as long as there are safeguards intended to ensure
fair
distribution of wealth and
reduce
the
negative
impact on the environment.