Consumer alliance for global prosperity! A summit for world economic growth
Eco center, SF 26 October, 2018
Green groups are shamelessly using children as political pawns, but incremental cost increases can mean the difference between getting new books and going without.
Using a green guise, some companies are feeding off the public trough and “burning black liquor into gold”.
Activists and scheming corporations threaten free trade, which has lifted billions of men and women out of grinding poverty.
Economic growth is the ability of an economy to produce more services and goods in a particular period when compared to another time. An economy is said to have growth if the goods and services that are produced now are more and better than the once which were produced previously. When the economy is stable, business and companies become more profitable, and the prices of the stock markets increase. When stock prices increase, it provides companies and business capital money to invest in the latest technology and hire more skilled labors to produce better services and products.
Importance of economic growth:
One can say that a country has a healthy economy by looking at its economic growth. The national income is greatly dependent on the level of employment in a country. As the level of employment increases, the standard of living increases. When there is better GDP, you can understand that that economy has better employment rate and thus it increases the wealth of the country. As an economy grows, the government would require higher tax to maintain various things and develop the country. Only when there is economic growth, you will be able to eliminate poverty from a county.
How is the economic growth measured?
The growth of the economy is measured by GDP (Gross Domestic Product). The GDP takes the economic output of the entire nation and measures the final production. It does not matter if the services or business is done overseas or domestically. The economy includes the exports that are made, and the imports are subtracted. Most of the nations around the world measure its economic growth every quarter, and the GDP is used to compensate for the effects that are caused due to inflations.
The gross domestic product does not include services like child care, black market activities, unpaid work like social services and it also does not cut down environmental costs. For example, GDP does not take into consideration the cost it would take to dispose of plastic, and thus plastics are sold at a cheap rate.
Factors that affect economic growth:
Natural resource of the nation:
When a nation has plenty of natural resources like coal, oil, minerals etc. the economy of that country tends to be more stable than others who do not have such resources. As natural resources are quite hard to replenish, the nation must take measures to balance the supply and demand of these natural resources. Through various land improvements, this balance can be maintained.
When physical capital is there in a country, it will be able to produce more goods, and as more products are produced, more export can be done to other countries.
When the population is high, there will be a better workforce, but the downside to this is that it can even lead to underemployment.
If a country is advanced in technology, it will have good economic growth. Technology can maximize productivity even without the need for labor.
Technology has changed the way we look at the world. It has deeply affected the global economy in a huge way. Technology has played a major role in international trade, and it has transformed the marketplace and has improved our standards of living. Today we have robotic systems which operate an entire manufacturing unit and other innovative systems which deliver the product and service in no time. The advanced in the Information Technology field along with the telecommunications has created job opportunities for many people, and it has also contributed to the economic growth.
Technology and economic growth:
With the internet, the world has overcome the physical barriers of communicating with each other, and this has also helped consumer goods and manufacturing companies to develop many links all over the world and provide proper customer support. Though various automated systems, the suppliers can have a check on the efficiency of the product that is produced and they can export it to various parts of the world.
The technological changes have brought about a great economic impact. When companies try to cut down various technological investments thinking that they are spending less money, they are actually losing their profits, and the productivity of labor starts to fall due to inefficient technology to support them. Technology fuels the economic growth in many ways. The advancements in robotics have brought about the production of efficient quality of service and products. Many hands held devices are manufactured to make our life easier and comfortable.
Technology has a great impact on the current market trends. When technology came into the picture, the market indexes of companies like Dow Jones, S&P have drastically changed, and the technology powerhouses like Google, Apple, Amazon etc. have taken control of the market, and their stocks are valued more than other industrial companies.
The downside of technological change:
One of the biggest downsides of technological change is the impact it has on the distribution of income. Many machines have replaced the jobs of many people. The ones whose jobs are replaced by technology find it harder to get a new job as they struggle with acquiring the advanced skills. The population who worked in agriculture has drastically decreased as lot machinery was introduced. As years go by, technology will certainly grow and it at the same time it will replace the jobs we have today.
As technology is constantly growing it is better for the current population to have a fresh look at education so that they will be able to learn various skills that are needed to match the jobs we have today. For job opportunities people need to be re-educated to have an advantage; this has been made much easier with the internet where you can find plenty of materials from which you can learn and develop your skill sets.
Save your spot
This is your chance to contribute to the World Economic Growth
- All standard tickets begin here and is the best deal, ideal for all visitors.
- Tickets for premium clients. You get to enjoy better benefits!
- Special Passes for VVIP visitors. The best of all deals, and we hope that you will not miss the opportunity.
What are you waiting for?
The world’s economy is not getting any better
Days Hours Minutes Seconds
Get your ticket
Copyrights 2018 http://consumerprosperity.com. All rights reserved.