Sustainable Prosperity Concepts
What does sustainable prosperity mean?
Use resources responsibly
What does GDP per capita measure?
Economic output per person
What is trade liberalization?
Remove trade barriers
One opportunity from trade liberalization?
More trade / growth
Name one perspective on achieving prosperity
Free trade OR environmental stewardship
Name the three HDI categories.
Health, education, income
What is the knowledge economy?
Tech and education jobs
One challenge from trade liberalization?
Unequal benefits
Why is continuous economic growth a problem?
Environmental damage
Why isn’t GDP alone enough?
Ignores social/environmental factors
What is privatization?
Sell government services
One pull-up and pull-down of the knowledge economy?
Pull-up: High-paying jobs; Pull-down: Poor countries left out
Name the two aspects of sustainable development.
Environment and economy
Which organization created HDI?
United Nations
How can foreign investment help a country?
Create jobs / boost economy
One opportunity and one challenge of privatization?
Opportunity: Less gov spending; Challenge: Expensive / profit leaves country
Give one non-economic factor in measuring prosperity.
Examples: health, education, governance
Name one limitation of HDI
Doesn’t include environment or happiness
What happened to South Korea after investments left in 1997?
Economic downturn / lost jobs
Effect of foreign investment on sustainability?
Boost economy but risky