Learned To Stop Worrying And Love The Crisis

Future Environments And Future Economies

Discuss about the Learned To Stop Worrying And Love The Crisis.

The paper elaborately describes the changes of the future economy and the impact of the economy on the future environment. It also discusses the cognitive factors, responsible for the future economic growth. It is important to mention that there is a strong correlation between the income of a person and the extent to which the person takes environmental protection measures. The environmental improvement is fastest when the economic growth is positive¹.

Th[1]e primary driving forces of the economic growth should be addressed well to understand the economic growth. Let it be assumed that the production function Y be a linear homogeneous function of the production function.

Thus, the relationship is expressed as, Y = f(L, τ, K, IMR) where,

L= labor input, τ = the state of technology, K = capital equipment, and IMR = access to foreign resources^2[2].

It is worth mentioning that, a controversial and robust relationship exists between economic growth and environmental development. Increase in the increasing economic activity needs energy and material inputs on a large scale. The environmental degradation like waste accumulation, the presence of pollutants and the depletion of natural resources and many more, would result in the decline of the welfare of human lives even if the income level is rising that is, the economic activity will be at risk if the natural resources get wasted. It should be noted that only a steady-state economy would save the environment as well as the economic activity. A nations' economic growth will provide money to the country, and the government can utilise that money to create parks, reserves and also can implement primary policies for environment conservation. Thus, economic growth ensures the protection of the environment. The “Environmental Kuznets Curve” shows the inverted U  shaped relationship between the economic development and environmental degradation.

The graph shown below, represents the stages of economic development

Both the level and the volume of environmental degradation do not affect the existing economic activity when the level of development is low. The waste production and depletion of resources get accelerated when the agricultural production gets magnified, and the resource extraction gets intensified. On the other hand, a steady decrease When the development rate increases at a higher level, the environmental conditions result in consistent degradation.

According to the report on the global economy in 2050, published by PWC global, the cumulative global gross domestic product or GDP will increase 130 percent³. The 9 percent of worldwide GDP at Purchasing Power Parity (PPP) will be contributed by European Union (EU). Besides, India will be in the Second position of global GDP ranking at PPP which is ahead of US but just behind China where China will share 20 percent of the worldwide GDP at PPP by 2050. The consistent improvement on technology-driven services and products, the global economy may get doubled in 2050. Besides, the growth of emerging market (E7) will be enhanced twice just like the advanced economies (G7). It will represent six of the seven largest economies as emerging economies in 2050 where China will lead the first position, India will be in the second position, and Indonesia will be in the fourth position. Mexico may overtake The United Kingdom (UK), and the UK may go down to 10th position by 2050. Similarly, Turkey and Vietnam will respectively leave France out of top ten and Italy out of top twenty. It is suggested that the emerging economies should improve their economic infrastructure to retain potentiality in long-term economic growth[3]³.

Social Apps: Economy Of Love

The above discussion concludes that in the near future, the world’s economic scenario and the environmental landscape will face drastic change. Within 2050, most of the world’s present powerful economies will lose their position from the global rankings, and the seats will be replaced by emerging economies of the developing countries like Indonesia and India. Thus, the environmental constraints, affected by the pressures of population growth, low per capita income and many more, need improvement to get a better socio-economic growth and finally, the growth supersedes the environment.

According to the theory of economy of love, the more one spreads love, the more love one receives. Thus the economy of love indicates the perception to analyse anything using one’s heart, not only one’s head[4]. This paper shows the critical analysis of the impact of the economy of love on the marketing strategy of the social apps. Besides, it also shows how human behaviour is modelled and human being is characterised as “Homo Economicus”. “Homo Economicus” is a term that is used by economists to describe a figurative human being who can make infinite rational commitments[5].

The words “economy” and “love” rarely come in a single sentence. A critical aim of the economy is to economise any waste even time too so that all the activity becomes effectively purposive. Through the use of the dating apps, the romance and the love among people is getting optimised. The era of social apps where the relationships, emotions and social media go hand-in-hand, the love apps and the social apps are like hot money, and the dating apps’ market will be emerging day by day until people look for love. According to a report, the dating market is generating more than 1,281.2 million US dollars at the end of 2017[6]. If someone wants to be joyous and fully engaged, then he or she can get it very quickly through the use of social apps because the social apps have made a world where everyone is given equal importance. The politics of hatred is being removed, and everyone is getting closer with the help of social apps. This change is bringing a revolution in the society, and the world is becoming a world of love[7].

According to the perception of some economists, money can measure the preferences and interests of human being and money can fathom the cost of love. People calculate the costs and benefits while choosing their life partner[8]. It is worth mentioning that dating apps are taking two people closer, connecting people more and helping people to be happy, to feel more beautiful. The more a person involves himself in the social apps, the more he is following the path of the economy of love, the more he is getting attachments from other person and the more he is socialising himself. In the world of competitive relationships, people try to fit in a relationship to be together harmoniously. The human behaviour is aligned with the social apps now-a-days[9]. This generation is obsessed with finding love using social apps. It is super easy to get connected with anyone instantly from any part of the world with the help of social apps. Most of the social apps which help you to find your love are cost-free. However, some social apps are paid. Thus there is enormous growth and income opportunities out there in the business of social apps for tech-savvy entrepreneurs[10].

Environmental Improvement Fastest For Positive Economic Growth

The human beings can be understood as economic species. Oxytocin, also known as the love hormone, is the primary factor for the unswerving attachment between two individuals who are compassionate to each other about love. Oxytocin is the stimulant for empathy, trust, generosity, and more. It acts as a social adhesive that adheres societies, communities, and ultimately bonds the entire world by working as an economic lubricant, enabling the engagement in all types of transactions. Thus, the oxytocin is released in the brain of an individual when someone trusts him, and it also leads him to reciprocates trusts to be trustworthy. Each social app is trying to be reliable to people to gain economic benefits. Therefore, the founders of those social apps try to release oxytocin of people to be seen as trustworthy so that people can feel thrilled to engage themselves in the social apps for engagement[11].

From the above discussion, one can conclude that the utilisation of the rule of economy of love is expanding as the owners of the social apps are trying to engage people by reciprocating faith. The fresh start for civil society, the beginning can be done holding the path of the economy of love, and that can be done using social apps, more explicitly dating apps which has brought people nearer, breaking all the barriers.

References

Champ, Bruce, Scott Freeman, and Joseph Haslag. Modeling monetary economies. Cambridge University Press, 2016.

Fidrmuc, Jan, and Ariane Tichit. "How I learned to stop worrying and love the crisis." Economic Systems 37.4 (2013): 542-554.

Gilpin, Robert. The political economy of international relations. Princeton University Press, 2016.

Kenney, Martin, and John Zysman. "The rise of the platform economy." Issues in Science and Technology 32.3 (2016): 61. 

McCulley, Paul, and Zoltan Pozsar. "Helicopter money: or how I stopped worrying and love fiscal-monetary cooperation." Global Society of Fellows 7 (2013).

Morrison, Carey-Ann, Lynda Johnston, and Robyn Longhurst. "Critical geographies of love as spatial, relational and political." Progress in Human Geography 37.4 (2013): 505-521.

Scharmer, C. Otto, and Katrin Kaufer. Leading from the emerging future: From ego-system to eco-system economies. Berrett-Koehler Publishers, 2013.

Vitalevna, Grigoreva Olga, Yakovleva Elena Ljudvigovna, and Seliverstova Natalia Sergeevna. "Human behavior in digital economy: the maim trends." (2017).

Krelle, Wilhelm, ed. The future of the world economy: economic growth and structural change. Springer Science & Business Media, 2013.

Panayotou, Theodore. "Economic growth and the environment." The environment in anthropology (2016): 140-148.

'The World In 2050' (PwC, 2018) <https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html> accessed 10 May 2018.

[1] Panayotou, Theodore. "Economic growth and the environment." The environment in anthropology (2016): 140-148.

[2] Krelle, Wilhelm, ed. The future of the world economy: economic growth and structural change. Springer Science & Business Media, 2013.

[3] 'The World In 2050' (PwC, 2018) <https://www.pwc.com/gx/en/issues/economy/the-world-in-2050.html> accessed 10 May 2018.

[4] Vitalevna, Grigoreva Olga, Yakovleva Elena Ljudvigovna, and Seliverstova Natalia Sergeevna. "Human behavior in digital economy: the maim trends." (2017).

[5] Morrison, Carey-Ann, Lynda Johnston, and Robyn Longhurst. "Critical geographies of love as spatial, relational and political." Progress in Human Geography 37.4 (2013): 505-521.

[6] Scharmer, C. Otto, and Katrin Kaufer. Leading from the emerging future: From ego-system to eco-system economies. Berrett-Koehler Publishers, 2013.

[7] McCulley, Paul, and Zoltan Pozsar. "Helicopter money: or how I stopped worrying and love fiscal-monetary cooperation." Global Society of Fellows 7 (2013).

[8] Fidrmuc, Jan, and Ariane Tichit. "How I learned to stop worrying and love the crisis." Economic Systems 37.4 (2013): 542-554.

[9] Champ, Bruce, Scott Freeman, and Joseph Haslag. Modeling monetary economies. Cambridge University Press, 2016.

[10] Gilpin, Robert. The political economy of international relations. Princeton University Press, 2016.

[11] Kenney, Martin, and John Zysman. "The rise of the platform economy." Issues in Science and Technology 32.3 (2016): 61.