Causes of 6 Economic Problems That Arises from Problem of Scarcity

Two Views about Development Economics:
However, it is worth mentioning that in the scope of development economics today we are not only concerned with the promotion of growth of GNP (gross national product) and raising standards of material living of the people at the present but also with bringing out the adverse and disastrous consequences of depletion of natural resources.Besides, economists are also interested in preventing environmental pollution which occurs through reckless industrialisation and economic growth. If the interests of the future generation are to be promoted, the resources, especially energy resources, have to be conserved and also if quality of life has to be improved, the environment has to be protected and saved from pollution.It is with this regard that the concept of sustainable growth or sustainable development has been put forward which implies that if severe damage is done to the environment and resources and if because of reckless industrialisation resources are not conserved for future, economic growth in the future will be limited.