Pumping Up The ECONOMIC GROWTH Essay Example | Topics and Well Written Essays - 250 words

Pumping Up The ECONOMIC increase - Essay ExampleThis marrow that enhancing human capital will increase the quality of labor, which will in turn increase sparing growth. The third factor that has to be considered is capital, an increase of which will increase economic growth. Capital is best increased by focusing on investment that improves the technology used. This will ascertain that capital used in production produces more output with less usage of resources.However, the factors mentioned above squander some detrimental effects, for example, using more resources to enhance economic growth results in the depletion of available resources. This means that future generations will have fewer resources with which to benefit themselves. The second detrimental factor is pollution, which usually occurs as resources are used to produce. The third factor is job displacement, which occurs because of an increase in technology that replaces human capital. The lowest detrimental factor in e conomic growth is cultural change, where existing cultures are continually replaced as economic growth is