Stuffs Impact on Economics



Table of Contents

Introduction1

Discussion2

Transportation Stuffs2

Electricity Stuffs4

Stuffs Creating Wood Smoke5

Energy Using Stuffs and Agriculture Impacting Water6

Machines7

Forestry Products8

Housing8

Conclusion9

References11

Stuffs Impact on Economics

Introduction

Economic growth is a measure of growth in the productive capacity of an economy, which is an increase in the total output of goods and services produced. It is measured as an increase in Gross Domestic Product (GDP), per capita. The economic growth is basically depended on natural resources, as the are used to produce goods and services that are exchanged for money (wealth). Thus, at the bottom of it all, the economic system is majorly depended on an infinity supply of natural resources.

However, research indicates that the stuffs we use in our daily life like cars, housing, forest extract material, and many others are continuously harming our environment, which means that indirectly we are haring our natural resources which stabilizes or sustain our economic system. As an example, we can take woodfuel and the unsustainable extraction of forest resources, which leads towards degradation of forest and biodiversity loss. The air pollution harming our environment, caused by cars, fossil fuel combustions, and other energy creating sources are impacting our environment (Bedi et al., 2000, n.d), which means they are indirectly impacting our economy. However, it is also evident that without building houses, developing efficient fuel cars, using forest wood for creating stuffs, and much other stuff that used to form or are formed they are essential for economic growth. As research of 2009 National Association of Home Builders indicates that occupied housing enhances the availability of local jobs, incomes, and taxes (NV Rural, 2003, p.5). Thus, all our daily usage stuffs have good as well as bad impact on our economy.

Discussion

There are many stuffs of our daily usage that are impacting positively as well as negatively on our economy, which may include stuff like cars, housing, electronic machines, forestry products, and others. As the Annie Leonard's book “The Story of Stuff” indicates high figure of people killed by air pollution, and also that around one-fifth of the population of this world experience water scarcity, and other facts that clearly indicates that our day-by-day increasing usage and creation of different stuffs is also impacting 'negatively' on our economic system (2010, p.39).

We can analyze the positive and negative impact of stuffs on our economy by illustrating impacts of some of our stuffs (includes in GDP):

Transportation Stuff

“Automobile sector is one the major contributing factor in our economic growth, however, transportation Stuff is harming our natural resources by polluting our environment.”

The vehicles used by us in our daily life pollute our environment heavily. The infrastructure of transport use vast amount of fossil fuel and spews out waste, which highly pollute our environment (Leonard, 2010, 113). That not only emits high pollution but also makes US highly dependent on foreign oil. Due to these reasons President Obama while stating his 2011 State of the Union address said that America should have one million electric vehicles by 2015 (Decher, 2011, ...