Ethical Implications of Prioritising Economic Growth

Environmental Degradation: Prioritising economic growth often leads to environmental harm, disproportionately affecting vulnerable communities reliant on natural resources.
Social Inequality: Economic growth that neglects social equity can exacerbate existing inequalities, concentrating wealth among a small elite while marginalised groups lack access to essential resources.
Intergenerational Justice: Focusing solely on immediate economic gains compromises future generations’ ability to meet their needs, leading to resource depletion and environmental crises.The richest 10 percent of the world had caused around half of global emissions in 2015.
Health Impacts: Environmental neglect can result in health crises due to pollution and climate change, disproportionately impacting low-income communities. ‘A Just World on a Safe Planet’ study- nine million premature deaths are linked to air and water pollution and millions of others are suffering from diseases due to rising heat and extreme weather events.
Moral Responsibility: There is an ethical obligation to ensure equal access to resources necessary for a dignified life, which is undermined by prioritising growth.
Global Disparities: Economic policies favouring growth often overlook the needs of developing nations, perpetuating poverty and dependency.

Ethical frameworks for fair resource allocation
Utilitarianism: Maximises the greatest good for the greatest number. Example: Investing in renewable energy can benefit both the economy and the environment.
Deontological ethics: This approach emphasises duties and principles, suggesting that we have a moral obligation to protect the environment and ensure equitable resource distribution, regardless of economic outcomes.
Virtue ethics: Focuses on developing good character traits. Example: A virtuous leader might prioritise the long-term well-being of the community over short-term gains.
Equity theory: Emphasises fairness and equity in resource distribution. Example: Policies that address income inequality and ensure access to essential services can promote equity.
Ecocentrism: This perspective places intrinsic value on nature, advocating for policies that prioritise environmental health alongside human welfare, ensuring that resource allocation considers ecological sustainability.
Participatory governance: Involving affected communities in decision-making processes ensures that diverse perspectives are considered, leading to more equitable resource distribution.
Sustainable Development Goals (SDGs): Aligning resource allocation with the SDGs promotes a holistic approach that integrates social equity, economic growth, and environmental sustainability.
By applying these ethical frameworks, societies can develop strategies that ensure fair and just resource allocation while addressing the intertwined challenges of climate change and poverty.

PYQ
Global warming and climate change are the outcomes of human greed in the name of development, indicating the direction in which extinction of organisms including human beings is heading towards loss of life on Earth. How do you put an end to this to protect life and bring equilibrium between the society and the environment? 2024
What is meant by ‘environmental ethics’? Why is it important to study? Discuss any one environmental issue from the viewpoint of environmental ethics. 2015
There is enough on this earth for everyone’s needs but for no one’s greed. Mahatma Gandhi. 2013human beings

Source:https://indianexpress.com/article/explained/explained-climate/rich-climate-crisis-study-9587729/

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