Gross Domestic product marks the economic growth.The growths can be by two ways, positive and negative. Positive growth is associated with surplus,and to a period of boom or upturn. Negative growth means a shrinking economy, linked with recession or downturn.
Economic growth aims at maximum returns on investments.To enhance economy , a free trade policy is adopted. The principle of trade got a dramatic reformation, in course of the centuries. If a commodity can be procured cheaply from another country, there is an avenue for profitability.This theory of comparative advantage brings with it free trade.Creative destruction infused by capitalism produces enormous wealth, by investing low return capital in high return cutting edge technologies.
Economic growth has an overwhelming dominance on the living conditions of the people.Global poverty has been minimised by the onslaught of thriving economy.Happiness increases with higher per capita income.The economies driven by new technology and ongoing improvements excel in efficiency.
Prosperity heralds misdoings such as crime ,theft, cheating . The more the material excess, the more immoral ,arrogant behaviour can be anticipated .The excess revenue commands many unwanted needs.Requirements are created.Wants are invented. The consumers ,instead of being masters of economy,are converted into slaves of the growth brought forth by them.We are living beyond our means. We are suck ing out the natural resources to the maximum. Human environmental demand needs 21.9 hectares per person, while earth’s capacity per person is 15.7 hectares per person.The gap between the poorest and richest countries in the world is widening.There is an evidence of inequality in wealth.
Growth improves the quality of life to a point ,after which there is a gradual fall. This not only applies to a nation, but also to an individual. The United States Of America ,which had unprecedented growth a few decades ago is witnessing an unbelievable detiorartion in recent years.The American splurge is an outcome of excessive surplus made available to them by the rising economy. Their ostentation has purported a decline in wealth.
There is a saying in Tamil “:muppathu varusham vazhlanthavanum illai , thaalnthavanum illai,” which when translated reads , no man lives in glory for thirty years, nor wallows in poverty for the same period. The cycle varies. The ups and downs mark the way of life.
The approach is important. The placid perception, the keen insight, the equanimity, the pleasant acceptance that makes everything ,either it be growth or fall , sweet and salubrious,great and wholesome, fine and friendly.
Meenas Poems 