Chapter 12 Sustainable Prosperity PDF

Chapter 12 SUSTAINABLE PROSPERITY To what extent can globalization bring sustainable prosperity to all people? H  KEY TERMS Knowledge Economy Sustainable Prosperity Privatization Sustainable Development...

Chapter 12 SUSTAINABLE PROSPERITY To what extent can globalization bring sustainable prosperity to all people? H  KEY TERMS Knowledge Economy Sustainable Prosperity Privatization Sustainable Development Global Climate Change H  Sustainable Prosperity Sustainable prosperity means practising stewardship of the environment and resources for future generations. The goal is to balance environmental, social, and economic factors. Sustainable Development The United Nations uses the term Sustainable Development Development that meets the needs of the present without compromising the ability of future generations to meet their own needs. 2030 Agenda for Sustainable Development Initiated in 2015 17 goals in total “...seeks to guide Member Builds on the Millenium States to transform their Development goals approach to achieve inclusive, Focuses on: people-centred and ○ People sustainable development with ○ Planet no one left behind.” ○ Prosperity ○ Peace ○ Partnership WAIT! H BALANCE Economic Prosperity vs Social Prosperity H  Measuring Prosperity Prosperity can mean different things to different people Some examples of prosperity Formal measurements are often measurements: based on: Gross Domestic Product Standard of living Human Development Index Number and quality of goods Gross National Happiness Index and services The wealth of the country  Gross Domestic Product (GDP) GDP is commonly used to measure the health of a country’s economy and the prosperity of their people Measuring GDP per person gives insight into standard of living Changes in GDP shows the health of a country’s economy ○ Stats Canada is an organization that monitors this Income and standard of living are closely tied to GDP Drawbacks to measuring prosperity through GDP: ○ GDP per person is an average Children are included but rarely work You know I these (play x2)  Human Development Index The H.D.I. was created by the U.N. to measure quality of life Used to classify countries as developed, developing, or underdeveloped Measures how economic policies affect quality of life in a country Calculates by three main categories: ○ Longevity; measured by life expectancy ○ Knowledge; school enrolment and literacy stats ○ Standard of living; GDP per person Human Development Index Human Development Index Challenges for Canada  Gross Happiness Index Created by the King of Bhutan Said to address 9 factors: Its purpose is to: 1. Psychological well being 2. Health - Promote sustainable and equitable social and economic development 3. Education 4. Time use - Preserve and promote cultural values 5. Cultural diversity and resilience 6. Good governance - Conserve the natural environment 7. Community vitality - Establish good governance 8. Ecological diversity and resilience 9. Living standards Gross Happiness Index How do you measure prosperity? Google Form H  HDI Comparison Choose a country with a higher AND lower HDI than Canada What are they doing that Canada isn’t? What is Canada doing that they aren't? H  Knowledge Economy In general, the knowledge economy includes businesses and individuals who use research, education, new ideas, and information technologies for practical purposes. Contributes to the development and advancement of technologies and global communication. Also means that technology is becoming obsolete faster than ever before.  Industries Primary Tertiary Secondary services agriculture (agrarian) manufacturing Knowledge education + human capital  Privatization Public services are often extremely costly to run Privatization - selling a public service to a private company so that the service is no longer ran by the government ○ Examples: Health care, education, road maintenance Why might the government want to privatize a public service?  Foreign Investment Purchase of assets in one country by individuals, institutions, or governments in another country