DECK 8 Flashcards
(36 cards)
Talk about technological change in the introduction to sustainable development
- the long-term driver of economic development
- comes with side effects
- can achieve human goals through a deliberate goal-based interaction of public and private research and development (R&D) efforts
Talk about GDP per capita for sustainable development
- GDP per capita is one summary measure of the economic development of a country
- It is imperfect, however, because it does not measure the goods and services transacted outside of the market as well as the “bads”, like pollution, that often accompany production
When did economic growth start in Great Btitain?
1750 with the Industrial Revolution
What are the environmental crisis in sustainable development?
The worlds unprecedented large-scale economic activity is creating an immense environmental crisis: humanity is changing the Earth’s climate , the availability of fresh water, the oceans chemistry, and the habitats of other species
What era are we in?
We have entered the era of the ANTHROPOCENE, an era in which humanity is creating major disruptions of the Earth’s physical and biological system
What is the BAU path in sustainable development?
The business as usual path is a scenario in which humanity continues on the current course. An alternative path, one that aims for social inclusion and environmental sustainability, will be called the sustainable development path
What boosted economic growth in England during 1750?
- Unique combination of forces spurred growth in economic life that eventually spread to the entire world.
- Topography, river ways, canals, ports, and mineral deposits in combination with the market incentives, rule of law, and a university-led scientific outlook all helped boost economic growth
What did James Watt inmprove?
In 1776, in an environment where commercial law existed and intellectual property rights were recognized, James Watt improved on a previous stream engine design, and patented his Watt steam engine. His invention made it possible to efficiently and economically harness massive amounts of energy from coal deposits
What is catch-up growth driven by?
Adopting technologies from abroad
What has kept the process of endogenous growth moving forward since the industrial revolution?
Several waves of technological change:
- steam age (1780-1830)
- age of steel production and railway building (1830-1880)
- age of electricity (1880-1930)
- age of automobile of the chemical industry and aviation (1930-1970)
- age of information and communication technologies (1970-2010)
Why has the US been the main technological leader for a long time with 1.7% gdp growth rate?
Mainly fur to easily available energy sources
What did DENG XIOPING do when he came to power in China?
Opened the country to a market system
What facilitated the era of globalization?
Facilitated by technological breakthroughs, systems of production became global
What are the main economical diseases?
- Bad economic policies
- Poor governance (corruption, inefficiency, incompetence)
According to Acemoglu Robinson, why do nations fail?
The notion that hot climates causes poverty is flawed, as history shows no lasting link between geography and economic success. Political and historical factors, like borders and governance play a much larger role in global inequality. Look at Singapore and Malaysia.
What is the resource curse?
Energy is at the core of every economic activity, and countries with abundant fossil fuel resources can more easily achieve economic growth. However some resource rich countries have mismanaged their natural resources falling into a resource curse, where large financial flows from resources become diverted into massive corruption
What does climate have a large effect on?
Crop productivity, diseases, water scarcity, and vulnerability to environmental hazards
What is the effect of gender inequality?
With a large difference in attitudes in gender equality, it limits the economic development of a country since women cannot fully participate in economic and political things, resulting in the country to only run half of its brain power and talents
Why is the government vital for the rule of law?
- To avoid anarchy and violence
- ensure that other institutions operate according to the law
- ensure contracts are enforced
If the government is corrupt, it might fail to deliver broad-based economic development. In addition, corporate lobbying can result in failures of the regulatory process
What played an adverse role in economic development of former colonies?
The colonial legacy
Who predicted that any gain in living standards would be annihilated by population growth, and did not foresee technological advances and the demographic transition. However he was right to predict massive population growth
Malthus
What is the list of planetary boundaries across 9 areas to allow the identification and quantification of safe operating limits for human activity?
- Human-induced climate change which threatens the global food supply, the survival of other species, and disrupts life due to more intense storms and sea level rises
- Ocean acidification, which threatens marine life
- Ozone depletion, which causes increase disorder such as skin cancer
- Pollution from excessive nitrogen and phosphorus, which threatens estuaries with eutrophication
- Overuse of freshwater resources, which is exacerbated by growing populations and changing precipitation patterns due to climate change
- Land use - deforestation not only adds CO2 to the atmosphere but destroys the habitats of other species
- Biodiversity loss - we depend on biodiversity for food supply, safety from natural, industrial materials, freshwater, and our ability to resist pests and pathogens
- Aerosol loading - the burning of fossil fuels puts small particles into the air that are damaging to the lungs
- Chemical pollution, a broad category mostly caused by industrial activities
What is pent-up growth?
The amount of growth resulting from poorer countries catching up with richer countries, would correspond approximately to tripling world output
What is the good and bad of fossil fuels?
- It allowed the breakthrough to the era of modern economic growth
- However, now it is a danger as is emits too much co2, as the economy grows, the energy use tends to grow alongside it: a doubling of the size of an economy tends to be associated with a double in primary energy use