Social 10-1: Chapter 12 Notes: Sustainable Prosperity
WHAT IS SUSTAINABLE PROSPERITY? (P280-285)
Because the term Sustainable Prosperity is open to interpretation (depending on one’s
definition of “prosperity”), the UN prefers the term Sustainable Development – meeting
the needs of the present without compromising the ability of future generations to
meet their needs.
Measures of Prosperity - p282
◆ Groups and organizations use various measures to try to develop an accurate
picture of how countries are sharing in sustainable prosperity and of how
sustainable prosperity of a country has changed over time.
Gross Domestic Product (GDP) as a measure of prosperity – p282
◆ What does it measure?
◆ The health of a country’s economy and the prosperity of its people.
◆ Income & standard of living per person is closely connected to GDP
◆ What criteria are used for the measurement?
◆ The GDP (the value of all goods & services a country produces in one year) is
averaged over the number of people in the country.
◆ The average is deceiving. Why?
◆ If a company has 100 workers who earn $35,000/year, and one president that
earns 200 times as much, what would be the total earnings of the workers and
president?
◆ What happens when you average the earnings of these 101 people?
◆ How accurately does this number reflect the real prosperity of the workers? Of
the company president?
The Human Development Index (HDI) as a measure of prosperity – p282-283
◆ Quality of life in UN member countries & how economic policies affect the
quality of life of a country’s people
◆ Used to classify Developed, Developing or Underdeveloped countries
The HDI measures:
◆ Longevity – life expectancy
◆ Knowledge – literacy
◆ Standard of living – GDP per person
◆ [Link]
Other measures of prosperity – p285
◆ Bhutan – “Gross National Happiness”
◆ Based on Buddhist spiritual values – measures inner happiness & well-being of
the people
What are the Criteria for GNH?
◆ Sustainable & equitable social & economic development
◆ Preserve & promote cultural values
◆ Conserving the natural environment
◆ Establish good governance
Genuine Progress Index (GPI)
◆ Measures: sustainability, well-being & quality of life
◆ Criteria includes environmental and social assets such as volunteer work and
time spent raising children
WHAT POLITICAL AND ECONOMIC CHALLENGES AND OPPORTUNITIES ARE
ASSOCIATED WITH GLOBALIZATION?
(P286-292)
◆ Trade Liberalization refers to the reducing of the barriers in global trading – the
market and competition determine your country’s place in the world trading
arena.
◆ What are the other elements that are necessary for economic growth? (Hint:
look for the ‘fuel pump’ on p286)
The Knowledge Economy & New Technologies – p290
◆ Includes business and individuals who use research, education, new ideas, and
information technologies for practical purposes.
◆ Knowledge-based industries create high-tech products for businesses
◆ Examples include microsystem technologies, computer software, robotics and
biotechnology.
◆ Developed countries have the advantage – expensive to keep and stay up to date
Privatization – p291-292
◆ Providing public services such as the postal service can be costly.
◆ To eliminate this cost and to raise cash, some governments are choosing
privatization.
◆ Privatization: selling a public service to a private company so that the service is
no longer owned by the government.
Pros of Privatization
◆ Privatization lowers taxes – no longer need tax money to pay for the service
◆ Competition leads to lowers prices
Cons of Privatization
• more expensive because owners of businesses do it for profit
◆ In 56 countries, the water supply is controlled by large transnational
corporations
Privatization of Water
◆ Open your textbook to pg.284 and look at the cartoon.
◆ Answer the following questions:
– What would you put for a title?
– What is this cartoon in favor of? Opposed to?
– Do you agree or disagree with the cartoonist’s message?
Privatizing Water – p292
◆ 1.8 million children die every year of diseases caused by unclean water
◆ 30% of Canada’s First Nations’ water systems are at risk of contamination and
are a danger to health
◆ Humans will die in less than a week without water
◆ 1 billion people do not have access to clean water
Foreign Investment – p292
◆ The purchase of assets in one country by individuals, institutions or governments
in another country
◆ Stimulates economy, increases employment, raises the living standard
◆ Risks: if investors feel that their investments are losing value, they will pull out of
a country (1997 in East Asia & South Korea) – leaving nations to suffer or borrow
from the IMF.
WHAT CHOICES ARE ASSOCIATED WITH SUSTAINABLE PROSPERITY? (P294-296)
Millennium Development Goals – p294
◆ In 2000, the UN and leaders of 150 countries held an assembly at which they
agreed to work towards sustainable prosperity and development for all
◆ To this end, the UN compiled a list of goals: (Complete using p294)
1.
2.
3.
4.
5.
6.
7.
8.
Global Climate Change – p295
◆ Carbon emissions and other greenhouse gases are released when fossil fuels
are burned. They form a barrier in the atmosphere, leading to a greenhouse
effect and global climate change.
◆ The warming effect causes unpredictable weather phenomena, including
drought, leading to evaporation of water from rivers and lakes.
◆ Some countries, such as the United States, China, Saudi Arabia, and India
have been critical of global warming studies – why might that be?
Changing Government Policies – p296-297
◆ In Bolivia, glaciers have been melting at a quicker pace than before –
worrying officials about the future of drinking water.
◆ In Norway, officials have founded the “Svalbard Global Seed Vault” to
preserve a diverse selection of seeds should the Earth ever experience a
catastrophic event.
◆ In Alberta, the government asked the people to help set climate change
policy, by asking a series of questions (p297)