Economics and the Environment

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Sustainable DevelopmentThe solutions to environmental problems are somewhat related and the same in providing economic development for the nation. Environmental sustainability focuses on improving and sustaining the production of natural resources while providing the needs of the people in the present without compromising the needs in the future generations. Economic development on the other hand involves in tuning in meeting the basic needs of the people to promote growth and development through education and work. If provided by the well distribution of income to poor people, low class population in the people will be educated, thus tend to prioritize environmental sustainability. Therefore, economic development and environmental sustainability is synonymous in terms of definition.

The word sustainability is identified between the balance of economic growth and environmental preservation. With the many terms on the definition of sustainability in different aspects of every study, sustainability generally refers to meeting the present needs of the people without compromising the needs of the future generations.

Sustainability in economic development is a key factor for meeting goals and objectives for education, literacy, life expectancy, welfare of the nation and quality of the environment. Economic Development is therefore also concerned in meeting the needs of the people while without compromising future needs. Issues on sustainability like environmental degradation and global warming can reduce the pace of economic development. Environmental degradation drains the natural resources of the nation which results in the economic and social transformation. These changes include the shift in population growth, migration of population from rural to urban regions and encouraging urban issues. People usually are the cause of these environmental degradation and thus, rapid population growth and high economic activity more likely change the outcome of the environment. These include negative consequences such as the spread of diseases, water pollution, and global warming. Studies have shown that the 20% of the poor people in both rural and urban areas will always experience these consequences.

Developing nations in the present time most likely deal with this through environmental dependence. They depend on the technology of developed countries to provide solutions on emissions and the sudden unexpected change of climate in the area.

Environmental degradation can also detract from the pace of economic development by imposing high costs on developing countries through health related expenses and the reduced productivity of resources. The poorest 20% of the poor in both rural and urban areas will experience the consequences of environmental ills most acutely.

Because the solutions to these and many other environmental problems involve enhancing the productivity of resources and improving living conditions among the poor, achieving environmentally sustainable growth is synonymous with our definition of economic development.

Rapid population growth and expanding economic activity in the developing world are likely to do extensive environmental damage unless steps are taken to mitigate their negative consequences.

Yet to date, most of the greenhouse gases causing the problem were emitted in developed countries, creating what may be termed environmental dependence: Developing nations will be reliant on the developed world to take immediate steps to reduce emissions, as well as to develop new technologies that will enable further reductions and successful adaptation to the already inevitable warming and resulting climate change.

The term sustainability reflects the need for careful balance between economic growth and environmental preservation. Although many definitions exist,2 sustainability generally refers to meeting the needs of the present generation without compromising the needs of future generations.

Implicit in these statements is the fact that future growth and overall quality of life are critically dependent on the quality of the environment. The natural resource base of a country and the quality of its air, water, and land represent a common heritage for all generations.