The Consequences of Economic Growth Essay Example | Topics and Well Written Essays - 1250 words

The Consequences of Economic Growth - Essay ExampleThis discussion highlights thatwith increased economic relations between populations within and outside of national borders have led to greater economic growth throughout many parts of the planet. Employment increases, the cost of products decrease to a competitive market level, and the number of firms and the woodland of firms increase. As a developing economy grows, there is a greater propensity and incentive for outside(prenominal) governments to provide some form of economic aid, which is also in their benefits for their own economic expansion.From the study it is low-cal thatwith the spread of commerce comes the spread of newer technologies. With the breakthroughs in technologies in the telecommunications industry, the technology itself has become more accessible for depress income customers. Anyone with an internet connection can now communicate and do business with anyone else in the world. This has led to a rapid growth i n traditionally lesser-developed countries, because now there is a productive work twitch with the means to enlarge their economic fortunes. With the greater diffusion of technologies, entrepreneurs have become more empowered and enfranchise with freedom to pursue business ventures and this had led to a growth in business.Nations with no economic increment at all are subject to civil war, systemic poverty, famine, and political instability, as often and tragically observed in Sub-Saharan Africa or Central Asia in the present day.