Economic Growth Impact: Environmental & Social Aspects

This lecture delves into the impact of economic growth on environmental degradation, resource depletion, and waste accumulation. It explores the challenges of slowing down economic growth due to political priorities, job preservation, and stranded assets. The discussion extends to the concepts of GDP, GDP per capita, affluence, and development, highlighting the complexities of measuring prosperity and development beyond economic indicators. The lecture also explains the economic interactions between households, firms, and the public sector, emphasizing the significance of exports, imports, and monetary flows in a global economy.