Free Economics Dissertations - Evaluate The View That Economic Growth Should Always Be A Government's Main
Evaluate the view that economic growth should always be a government's main priority
Introduction: In order for anything to survive in this world today, money is important. If a country has revenue or assets and resources that are worth a great deal, it will be stable and secure. In addition to having revenue, assets, and resources, there is another important thing that a country needs: economic growth. Economic growth is an indicator of how stable a country is and in which direction it is going. It is an indicator of well being of the people in a country.
Growth Rate: A country that has significant economic growth is on its way to gaining more control over its political position. Though a country like China has a long way to go as far as competing wit the standard of living in the UK, it has a growth rate that gives itself an optimistic future. The Chinese government is aware of their economic growth rate as well. They know that the rate matters as well in the light of competitors, and so, they have an idea of how quickly they should be growing. Growing too fast will stretch their economy they believe, and growing too slowly will not do either because they do not want to lag behind. In the same way that China does not want to be left behind other countries believe the same, and this is why economic growth is important. In fact, economic growth should be made every government’s priority.
Economic Growth and Stability: It is quite obvious that every government is aware of economic growth and how quickly they should be growing. This is because they know that if the economy is growing steadily, there is every chance of stability developing in areas that may have been weaker earlier. However, it is not always easy to take decisions and develop policies for economic growth. It is not easy to prioritize economic growth over other obligations. This is because of the fact that some countries simply cannot affords to do so.
Economic Growth Obstacles: There are several issues that a country might have to deal with that could cripple its economic growth. Issues of territorial disputes, overseas disputes, health revenue service problems, etc. are examples. If one looks at the healthcare issues that some developed nations face, it can be observed how difficult it might be to put all efforts towards economic growth. This is the reason why it is difficult to divert a major amount of funding towards economic growth.
In addition to having to spend money in this direction, there are numerous other things to look out for. However, in contrast to this consideration, it must be asserted that if a government does everything possible to focus on economic growth, the pay-offs would make it easier to handle other issues. This is what some countries are in fact doing though it hurts the people.
Economic Growth and the Future: A country like China, for example, is one that does everything it can to make sure its economic growth is steady.
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