Economic Growth: Home Essay
The economic growth contributes to the wellbeing of people all around the world. Currently, more and more business pay attention to their environmental footprint. This happens because today the sustainability issues are becoming very important for businesses that want to succeed in the long term. Currently, the main environmental sustainability problems such as pollution, population growth, and climate change impact the ability of the global economy to satisfy the basic needs of the population. Businesses can be defined as the main contributors to climate change and environmental pollution. That is why in the second half of the 21st century sustainability will become the main business goal because this will be directly linked to profit.
The second half of 21st century will provide the global economic system with the ability to grow at unprecedented rates decades ahead of the current projections. This will happen because the economy will face such problems as population explosion and food shortages and will have to come up with an effective solution. The possible solutions to these two global problems will include nanotechnology, artificial intelligence, bioengineering, advances in productive technology and technological efficiency. The world will be dominated by capitalism that will flourish. That is because the global challenges will encourage bold entrepreneurship that can be defined as the main contributor to the flexibility of the global economic system. In its turn, the flexibility of the global economic system will encourage more people to take large scale actions in terms of entrepreneurship. The economic freedom that entrepreneurship ensures will an indispensable part of capitalism. This prognosis is quite optimistic and it is possible to suggest
that the standards of life will increase dramatically not only in developed but also in developing countries. This will lead to global equality in terms of resources distribution and political stability.
All economic norms serve specific Cui Bono interests. The implementation of the described economic norms that connect to environmental sustainability will have a massive impact in the second half 21st century 2050-2075. In order to ask the Cui Bono questions in detail, it is important to evaluate the norms in a realistic manner. Global sustainability issues mean the involvement of everyone on the global scale. This means that everyone will benefit by having a sufficient access to financial and natural resources. Moreover, businesses would benefit by receiving direct payment for goods and services provided because the economic system will be open and flexible. However, political and social conditions around the world will also be affected because sustainability issues will require implementation of new governmental policies and change in social consensus. The new policies will have a dramatic impact on the quality of life of people around the world because they will be concentrated on ensuring their freedom in terms of employment.
I consider that the second half of the 21st century will present a number of opportunities for me that will reflect on my material, economic, and institutional life. In 40 years my children will be able …
