What is ‘Sustainable Economy’?
Sustainable economy is an economy that attempts to satisfy the needs of humans but in a manners that sustains natural resources and the environment for future generation.
How can we make a path to it?
In terms of the perspective from the developed countries, economic growth depends on many things.
- Ensuring the well-being of the economy and improving standard of living by raising incomes, providing jobs, bringing revolutionary changes to industrial sector can be the way of gaining it.
- Environment has a big contribution to this. The more we keep safe our environment the more we save us. An environment that is not contaminated is one of the strongest path to gain sustainable economy.
- Increasing wealth, income, improved healthcare facilities, strong governance, efficient technology are the prime sectors and needs to get a pathway.
What is ‘Fragile Economy’?
Fragile economy or financial fragility is the vulnerability of a financial crisis caused by small and routine economic shocks.
Why financial fragility happens?
Financial fragility often seen in backwarded or developing countries. There are many reasons behind this.
- Population growth, inefficient technology, low per capita income, poverty are the main reasons behind a fragile economy.
- When the prime sectors of a country are not developed, environment is contaminated then the government became weak. These are the prime reasons that causes a fragile economy.
- Industrial sector has a big contribution to building up a sustainable economy. But when the industrial sector of a country falls down the economy also falls down with it.
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