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"Economic growth is bad for Australia."
Title: "Economic growth is bad for Australia."
Category: History
Details: Words: 338 | Pages: 1.4 (approximately 235 words/page)
"Economic growth is bad for Australia."
Economic growth is a sustained increase in the real value of national production over a period of time, usually one year.
Negative side of economic growth:
- EG is not the same as national progress. By focusing so much on economic growth, social problems may arise, such as a growing gap between the rich and the poor, rising crime rates, and a more "uncaring" society.
- Inequality of income: no guarantee that the benefits of EG will …showed first 75 words of 338 total…
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…showed last 75 words of 338 total…of full-time, permanent jobs available. Standard of living is decreased as a consequence.
Benefits of economic growth:
- increase in SoL, as measured by GDP
- new jobs are created, unemployment declines
- increase in tax revenue for the governments, so more can be spent in areas such as health and education
- increase in asset wealth
- increase in foreign investment
- more business and consumer confidence, which may lead to more investment
- more investment leads to "innovation and inventions".
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