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Social and Economic Development Challenges

Economic development aims to improve standards of living but often traditional societies become "losers" of modernization as they feel deprived and powerless. Further development risks the planet's carrying capacity if the 7 billion people currently seek higher living standards. Alternative development paths are needed that achieve human equality and prosperity without unsustainable natural degradation from constant economic growth. Managers must understand the conflicting challenges of growth versus conservation, progress versus roots, and maintaining growth while redistributing wealth sustainably.

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18 views8 pages

Social and Economic Development Challenges

Economic development aims to improve standards of living but often traditional societies become "losers" of modernization as they feel deprived and powerless. Further development risks the planet's carrying capacity if the 7 billion people currently seek higher living standards. Alternative development paths are needed that achieve human equality and prosperity without unsustainable natural degradation from constant economic growth. Managers must understand the conflicting challenges of growth versus conservation, progress versus roots, and maintaining growth while redistributing wealth sustainably.

Uploaded by

sunit das
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Development: the Social , Economic and Ethical Challenges

Economic development came about as means


of measuring well-being, such as per capita
income, GD P, gross national product
(GNP), unemployment rate, literacy rate, and
many more. Development has often been
identified as one of the key goals of a
sustainable society.
 As noted by John Bodley (1998), in his book
Victims of Progress the social advantages of
development defined in terms of higher
standards of living, greater security, and
better health are thought to be positive,
universal goods, to be obtained at any price.
 In practice, however, many traditional
societies have become the 'losers' of
modernization. People in developing
countries feel deprivation not only when the
economic goals they have been encouraged
to seek fail to materialize, but also when they
discover that they are powerless, second-
class citizens who are discriminated against
and exploited by the dominant elites.
 Yet, the potential whirling that all 7 billion
people currently inhabiting our planet into the
'winners' of development can spell the collapse
of our planet's carrying capacity.
 According to Peter Nemetz, the author of
Business and the sustainability Challenge (2013 :
36-38), if the alternative path to economic
development cannot be found, raising the
standard of the living for developing countries'
people will have potentially catastrophic impacts
on the global ecosystem.

Itis questionable whether human
equality and prosperity as well as
population growth can be
achieved with the present rate of
natural degradation. The current
emphasis on economic growth is
simply inherently unsustainable.
 The communication of the International
Development Research Center reflects on
these concerns by asserting that many of the
development paths followed by the
industrialized countries of the North are not
viable. Simultaneously, there is a moral
imperative for the economies of the South to
continue to grow to redress some of the
disparities between South and North.
Hence……
 Asmanagers you all must understand the
wider implications of some conflicting
questions like;
Economic growth or conservation,
Progress or return to root,
practical challenges of sustainable development
maintaining economic growth and redistribution of
wealth,
You should also clearly understand the key concept
like: poverty;( i.e absolute poverty and relative poverty),
demographic transition, justice and inequality.

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