After reading this article you will learn about the common economic system that exist till today. 1. Capitalist Economy: In the Capitalist economy, there is free enterprise and resources are used to produce goods and services that are demanded by the consumers. This economy aims at profit maximisation. The economy often achieves its high targets of economic growth but the [...]
Demerits of Economic Development! Atmospheric Pollution: Industrial development has caused the release of harmful substances into the air, which can cause numerous problems for all living organisms. Excessive air pollution has led to several new problems. These include smog, acid rain, the greenhouse effect and the creation of "holes" in the ozone layer. Each of these problems has serious implications [...]
There is, as always, another side to the coin. As many scientists have pointed out development in technology has led to the saving of the environment in many ways. Ridley (2002) writes "the invention of new technology is not necessarily a threat to the environment; rather it is usually the best hope of environmental improvement". This claim may seem far-fetched [...]