Getting to the Sustainable Future We all Want to See
We need to be able to have a sustainable future that we direly need. A sure way to that would be the use of solar energy and wind energy.
Globalisation & Inequality
It is indeed a very essential thing to make sure that your business reaches people across the globe but it is also very pivotal to fight against inequality.
Globalization is the reason for the availability of totally new opportunities for people around the world. It has introduced the exchange of ideas and technologies to each other, which has eased the availability of resources and provided better methods to approach development. But with the advancement of globalization, the difference between the rich and the poor has been noted to increase at a significant rate. The global inequality has been noted to increase from 1820 to about 1990. The major events that affected the global inequality were World War One and World War Two, which has created a difference in the growth among countries. However, the pattern has been noticed to change, and inequality has been observed to decline globally and surprisingly rise within the countries. Let us look at how globalization is increasing inequality across the nations.
Increase in specialization and trade
The growth of import and export have provided to the GDP of the nations. But it has resulted in the reduction of the prices for the domestic materials. The merchants prefer to import goods from other regions to find a better deal, which, on the other hand, reduces the economic growth for the domestic industries resulting in underemployment and decline in value. Lesser profits will lead to underdevelopment of the infrastructure of the domestic industries and unavailability of the new technologies. On the other hand, the industries exporting the materials from the other countries will have additional profits and lead to advancing their infrastructure and technologies.
Higher profits for multinational companies
The most benefiting sector in the globalization is the multinational companies which enjoys the maximum rates of profits. MNCs deploy their branches in several parts of the world and functions separately. However, all the branches are headed by one single headquarter, which generates the overall profit report. MNCs also employ the residents of their area of function. The salaries of the employees also differ based on which branch they are operating from, which is also a cause for global inequality. MNCs can easily shut down their least performing branches which leave hundreds of people unemployed.
Demand for higher skilled workers
The companies employ people based on their skill in the field. This results in increasing the salary expectations for higher skilled workers and lowering the expectation for low skilled workers, which creates a huge gap between the employees working in the same department and can be easily identified as inequality. The difference in salaries can be tremendously huge between 1-2 years of expertise in a certain department. It has also been noticed that the salary of persons working in same positions differ based on the region they work in. A person working in a metropolitan city will have more salary than a person working in a developing region for the same department in the same company.
The paradox of globalization is that if the inequality between the rich and poor reduces within the country, it increases while comparing to other countries and vice-versa. The government work towards providing knowledge and skills to benefit from the cross land trades and investments, and aim towards making globalization a boon rather a bane that it has become today in noted ways.
Every family in a state or a nation is an important asset to that region or nation. The economic functions of a family are important for the growth and development of a country, and the employed members of a family provide the workforce to the industries that work towards the GDP of the nation. Each family unit is necessary for the establishment of the institutions that are leading the societies today. A family can provide goods and other services to each other and sustain the well being of multiple members.
We need to look at family is an individual, organizational unit of individuals with different roles, privileges, options, and obligations. Different criteria have been established by the governments of different countries which oversees the distribution and development of resources and responsibilities for the families. These criteria are not based on the sex, age, financial condition, or roles they play in society. They are set to control the growth in demands of a single family unit which can disturb the stability of sustainable development. The scarcity of resources and sudden demands of the families more frequently can result in the unequal distribution of resources and services. The members of low-income families are observed to face more of such problems as compared to families with sufficient economic background. Let us look at the roles that Families play in contributing to the economic development of society.
Production of goods and services
Most of the industries in the market today are making products which are important for families as a whole. Families need food, clothes, house, vehicles, raw materials, kitchen appliances, etc. for its survival and well being. The industries are useless without the consumers, and families provide that major consumer base for these industries to grow.
The main objective of a government is to fulfill the needs of the people in under its supervision. The families is the sector which requires the maximum priority as the needs and demands of a family also benefits the needs and demand of all the individuals in that family unit. If the government manages to satisfy the demands of the families, it helps the authorities to advance in other aspects as in return they get the support of the families with individuals that serve the process of their agendas.
Human, social and moral capital
Families are the base which reflects the strength of any nation. The government recognizes as the most important social institution. A poorly functioning family is a symptom of a sick and weak society. When a family experienced a breakdown, the moral capital of the society, which leads to a negative impact on political economy. Families should always be a top priority of economic and social development to build a strong and advanced nation.
Real Estate is an evergreen industry which will grow as long as there is a need for industrialization and development of an area. There will always be the need for accommodation for the people getting employed in an industry or travelers and tourists visiting any place around the world. So real estate is a business which will never face any loss until unless a natural disaster strikes the buildings. Here are a few ways the real estate and economy of a nation are related.
A place for potential industrialization
The economy of a nation is very well dependent on real estates because it provides space for businesses to operate. It also provides the infrastructure required by an industry to function smoothly. The better the quality of the buildings and services of a place, the better reputation, and the attraction it receives. Business parks and IT parks are the most advanced industrial real estate operations that occur today. Companies choose the locations based on the facilities and space provided to them. A good real estate business which invites more industries will automatically help the economic growth by contributing to the GDP of the nation.
Source of employment
Real estate business provides employment in all sectors of the economy. The architects, builders, and engineers are hired to create masterpieces for industries and housing. Apart from these departments, it also employs the advisors, surveyors, facilities managers, which contributes to the construction of the buildings. Also, after the buildings are complete, space is provided to the new industries which will create employment to more people in the area.
Real Estates are the foundation of Industries
We should realize that Real Estates is the industry behind the establishment of major industries such as schools, hospitals and other institutions. All these industries work towards contributing the development of the economy and require the real estates for their establishment. The real estate works indirectly towards the economy of a nation. Hence, it is the foundation of all the other industries as no industry today can willingly work under a tree.
Growth in Tourism
Due to the infrastructural improvements in a country, the value for the places also increase. As the developed regions become attractive, it gains the attention of the people worldwide for tourism. The tourism industry benefits in a major way with good infrastructural growth. There is a need for a faster rate of development in the underdeveloped regions, and tourism is the fastest growing industry in the world and the regions with the best infrastructures are more likely to advance in economic growth compared to the underdeveloped regions.
Although real estates are not one of the major contributors to the economy, it surely is the backbone to support all the other industries working towards the development of a nation.
The green economy is an alternative to the growth and development of a nation’s economy during the times of global recessions. It is capable of generating sustainable growth and development in society. The green economy fuctions to improve the economic, environmental, and social aspects of society, unlike the regular economic model which only focuses on the growth of GDP of the nation and put aside all other aspects. The economic model provides satisfactory income and reduces poverty of the nations, but neglects the rapid depletion of environmental and natural resources. The world has also witnessed income inequality in more than two- thirds of the entire world. The green economy is a model which is formed to provide solutions to problems created by the economical model by implying a variety of institutional reforms and regulatory, tax, and expenditure-based economic policies and tools.
There are countries which have come forward to adopt the model of green economy and have shown a significant amount of positive results. These countries have been working on the ideas of “green growth” and “low carbon” economic strategies. Here are a few countries which have experienced growth and productivity under the green economy.
China has been investing more in renewable energy compared to any other country in the world. The new national policy predicts clean energy to be one of the biggest markets in the future, and China wants to take an early lead in the production of such technologies. With an abundance of land, China can easily be on the top lists for natural energy production.
Due to the increase in traffic and pollution, the Mexican government put forth new planning for the bus routes. The plan was called Bus Rapid Transit(BRT). This plan uses dedicated lanes for the bus to commute. There has been a significant improvement in the traveling time and pollution control due to this project. The public transport has now become more accessible to people. The plan has been successfully running in all the major cities of Mexico and has increased the investment in urban public transit.
Republic of Korea
A five-year plan for green growth was adopted, which focused on increasing the green resources across the nation. The government invested 2 percent of its gross domestic product in the green sectors such as renewable energy, clean energy technology, and clean water technology. The government also established a Global Green Growth Institute, which aims towards assisting developing countries in developing green growth strategies.
The world has become more connected today than at any time in the past eras, and people have together realized the depletion of resources around the world due to the previous economic development plans. The governments have started appreciating the sustainable development of their nations for maintaining their resources for years to come.