Threat of Economic Development in Ireland Essay Example | Topics and Well Written Essays - 500 words - 1

Threat of Economic Development in Ireland - Essay Exampleomic theory tells us to meet costs and benefits in order to determine whether resources are allocated in a manner that increases or decreases frugal offshoot, Adding further down in his commentary that, an otherwise(prenominal) forms of government spending have a less desirable impact on sparing activity. If a program does not facilitate or abet economic activity, or has only a small positive effect, then the aggregate impact on the economy will be negative because on that point are limited benefits if any to outweigh the costs. And if the program actually undermines work, saving, and investment or encourages misallocation of resources, then the overall adverse impact on economic growth will be particularly pronounced. A good example from recent events is federal flood insurance. Not only does the program require resources to be taxed or borrowed from the productive sector of the economy with all the associated econom ic costs, but it also encourages over-building in flood zones, which leads to the destruction of wealth during natural disasters, (Mitchell 10/25/2005).As it pertains to Irish environment, it can be determined that first a sense of which in environment is key in understanding the implications, positive or negative, that economic development will have on the said environment. When it comes to the political environment of a nation, economic development is important as it comes to progressive advancement. Any other environment can find itself hampered in one way or another by economic advancement because as was seen with the Industrial Revolution, which had great economic benefits even presently, the environment itself has suffered through greenhouse gases that have left the environment in continuously deteriorating health.According to the brief description provided within the article, Ireland is described as being the second richest nation within the European Union. As such, logical d eduction would state that for a country to have reached that