Category: Economic Development

Economic Sustainability Essay

The emphasis on the life cycle impacts of projects is also a process efficiency drive to ensure that construction strategies take a long-term view of costs, explaining why sustainable buildings typically have lower running and maintenance costs. These are achieved through sustainable design strategies and innovative use of sustainable materials and equipment. Even where upfront costs of sustainable projects are high, it takes a relatively short time to recover such additional costs in addition to the indirect benefits to clients, end users, and society. In particular, projects designed or refurbished to the attributes of economic sustainability can significantly extend or prolong both the physical and economic lives of a built asset. The economic life of a building is exhausted the moment the cost of maintenance exceeds the revenue flow from the asset. The benefits of designing sustainable attributes also extend to low maintenance and running costs, enhancing returns on investments, affordability, and clients’ or end-user retention.

Various design and construction management strategies exist that can be used to drive economic sustainability in projects’ delivery, but for effective outcomes, sustainability has to be designed into the project right at the very beginning. Conscious of post-construction running costs in terms of energy costs, efforts are deployed to see the potential for alternative energy sources such as solar energy, requiring site optimization and re-orientation in the direction where solar energy can easily be captured. Using stark effects and a passive ventilation system will avoid mechanical processes and hence, eliminate the use of energy. Also, increasing ceiling heights and using plants can be used to enhance cooling, as heat is known to rise, and also to allow daylight. Similarly, plants and innovative designs are also used to cool the building to reduce the amount of energy in use to keep running costs to a bare minimum. Secondly, executing sustainability site analysis will allow what materials can be reused and recycled, resulting in large savings on building costs. This is particularly the case in the refurbishments of built assets. The economic sustainability pillar and the environmental pillar can be seen to be inextricably linked and complementary, as economic sustainability measures also enhance environmental sustainability and vice versa; thus, synergies can be found between actions under the two pillars. Other strategies which include the use of Life Cycle Cost Analysis (LCCA), and Building Information Modelling (BIM) are used to achieve economic sustainability, these will further be elaborated upon when we come to discuss the tools for achieving economic sustainability.

Another dimension of economic sustainability is the opportunities projects provide for local employment and income generation, boosting local employment in the process. However, for this to be done, a sustainable site analysis is necessary to indicate materials that could be sourced locally for the project, as well as a local skills audit to indicate the possible skills available that could be employed. For maximum local impact, projects should be designed to use local materials and skills available without compromising the structural, functional, and aesthetic quality of the project. The Crossrail project in London is a case in point where it was deliberately decided to enhance the local economy, and the following were the economic contributions to the local economy:

At least £42 billion is estimated to be generated

• 55,000 jobs supported
• 96% of work awarded to businesses in the UK
• 62% of suppliers based outside London
• 62% of Tier 1 suppliers are small and medium-sized enterprises
• 72% of Tier 2 suppliers are small and medium-sized enterprises
• 1.5 million additional people to access central London within 45 minutes when the railway fully opens
• 3 million square feet of high-quality office, retail, and residential space at 12 sites
• More than 1 million square feet of improved public space across 40 sites
• Delivery of 57,000 homes was supported by the project

What has been demonstrated is that the building construction sector is well positioned to drive economic sustainability given the capacity to drive down costs through design and management efficiency and innovations, and above all, leverage employment and income-earning opportunities for the local economy. However, to effectively do this, sustainability policies and practices must be mainstreamed into projects at the conceptualization stage of the project and not appended at a later stage of the project life cycle.

Essay on Economic Causes of Imperialism

Colonialism is the act of a “powerful country directly controlling less powerful countries” (Collins,[no date] ) the historical act of colonialism was performed by the European colonial empires which involved countries such as Great Britain, Spain, Germany, Portugal, France, Belgium, and many more European countries. Before the end of the 19th-century, colonialism wasn’t ‘popular’ or important due to the historical context of the Napoleonic wars, industrialization, and “struggle of nationalism and democracy” (Age of imperialism, [no date], p.145.) European nations were not in the place to expand their empire. However, towards the end of the 19th century, there was an age of new imperialism as “Great Britain and France began to be economic rivals” (Age of imperialism, [no date],p.145. The desire to become great powers was growing this gave European nations the confidence to expand their empires. There are many reasons for the European colonial expansion and in this essay, I will be outlining the main motives which include political (within this I will be discussing military and strategic motives), economic, religious, and racial reasons.

One of the causes or motivations for colonial expansion in the 19th century was due to economic reasons. European countries such as Britain in the 1800s had just been through vast urbanization through the Industrial Revolution this meant they were scouting for new markets due to the pressures of financiers who were seeking new areas to invest. J.A. Hobson argued that European capitalist economies had expanded due to there being not enough profitability in investments in their home nations this meant they had to discover new areas to invest in to gain more profit so this caused European countries such as Britain to colonize areas around the world. As well as pressures from financiers there were also pressures from traders to seek new and raw materials (e.g. cocoa beans, rubber, copper, diamonds) and cheap labor, as imperialist power wherein rising competition for the best material goods and resources meant imperialist governments sorted for countries that possessed these materials this is seen in the example of when many European countries colonized countries in Africa to get its natural resources of cocoa beans, copper, diamonds, iron, etc. “Imperial merchants often established trading posts and warehouses, created transportation infrastructure, and sought control over strategic chokepoints, such as the Suez Canal in Egypt; which allows boats to cut thousands of miles of travel time between Asia and Europe” which made trading easier (Modern World History, [no date]).

Political motivations were also part of the reason for colonial expansion, during the 19th century there was a rise in nationalism this can be seen in the events of the Enlightenment and the French Revolution where nation-states were developing, and national identity was established among many. With this came the need for imperialist powers to want to become the best, thus creating more competition between countries they wanted to be the most powerful and prestigious so for them to have those qualities they needed to expand. For example, in Germany, Kaiser Wilhelm’s policy of Weltpolitik stated that colonial expansion was a way of raising Germany’s status, due to the late development of its industry expansion compared to other European powers Germany lacked the same advancement and they wanted to match their imperialist components. Leon Gambetta reiterates this when he stated, “To remain or to become a great state you must colonize” (James Joll, London Penguin,1990, p.81) this shows how territorial dominance was politically significant. A great example of political territorial power as a motive for colonial expansion was the colonization of Africa named ‘The scramble for Africa’ where European superpowers came together at the Berlin conference and negotiated who was going to occupy which countries and how the continent was going to be divided. France and Britain were the two European superpowers who conquered the most land which provided their status and power through this they were great powers. Aside from territorial power leading European nations felt that to be a great power they needed a strong navy military force this meant naval vessels needed military bases around the world to take on coal supplies (The Age of Imperialism, no date, p.146.)

Furthermore, aside from economic and political motivations for imperial expansion, there was also a sense of humanitarian and religious duty European countries felt they needed to fulfill, by spreading Christianity to Asia and Africa. For example, Christian missionaries from Europe established churches in conquered territories, they used this as a tool to encourage imperialism through educating the natives on Western culture and Christian values as they felt what they believed was “wrong” or “evil” and Christianity was the superior faith this is illustrated in a quote from the papal bull Inter Caetera on May 3, 1493 “The Catholic faith and the Christian religion be exalted and everywhere increased and spread, that the health of souls is cared for and that barbarous nations be overthrown and brought to the faith itself.” (Motives for imperialism, no date).

The idea of Western religion being superior leads me to the next motivation for the colonial expansion at the end 19th century; Ethnocentric motives. European imperial nations believed that their cultural beliefs were superior and more civilized than other groups, this was due to the prevailing concept of social Darwinism that was evident at the time. Social Darwinism is the belief that only the strong will survive in society, this is derived from Charles Darwin’s natural selection theory but was applied to societal concepts by Herbert Spencer in 1820-1902. For example, social Darwinism states that only the rich will survive because they’re naturally superior and fit to survive whereas the poor are naturally unfit to survive. After all, they’re the weaker group in society. During imperialism this same notion existed but in terms of race. The European colonizers were superior to the African and Asian colonized where inferior this is because European nations regarded their race, norms, values, and culture as superior to the Africans and Asians so they believed through colonization they were able to transmit their culture to the inferior people and help ‘civilize’ them. European humanitarians argued that colonialism was their humanitarian duty and that they were “aiding” the “barbaric” This is illustrated in a speech made by the French prime minister Jules Ferry in 1883 stated “I repeat, that the superior races have a right because they have a duty. They must civilize the inferior races…In the history of earlier centuries these duties, gentlemen, have often been misunderstood…But, in our time, I maintain that European nations acquit themselves with generosity, with grandeur, and with sincerity of this superior civilizing duty”. Furthermore, Europeans adopted social Darwinism as a motive for their imperialistic expansion by reasoning that some people were more advanced than others and as the white race they were inherently dominant therefore it was only natural for them to conquer the “inferior” as it’s a way of bettering mankind thus, the conquest of inferior people and the destruction of the weaker races was just nature’s natural law. ( The Age of Imperialism, [no date],p.146) 

Essay on Is Universal Healthcare Bad for Economy

The enactment of the Affordable Care Act is important in improving universal healthcare because it provides people of low income the opportunity to access quality healthcare services just like the working class. However, in attempting to achieve this, the GDP growth rate is likely to reduce leading to high inflation rates. This is why the government must take adequate measures as spending in healthcare is increased to help deal with these negative outcomes that are likely to jeopardize the country’s economy. The United States of America has experienced increased healthcare costs for several years which has forced the government to pump a lot of money into the healthcare sector. This has indeed forced the government to increase taxes and also tighten laws to maximize revenue collection. However, persistent increases in healthcare spending are harmful to the country’s economy and if not addressed adequately will lead to neglect of other basic needs like security. This paper will discuss in detail the case at hand, the major players involved in it, and the outcome of the case.

Reaching the year 2014, 18% of US GDP had been spent on healthcare services. During this time the cost of healthcare services went high making it unaffordable to low-income individuals. The number of people who cannot afford the rising cost of healthcare is projected to increase in case remedial actions are not taken (Haeder). However, the enactment of the Affordable Care Act is seen as the main remedy for this problem. The US economists argue that lowering the cost of healthcare is, however, unsustainable for the country and if not implemented properly would lead to over-borrowing to raise funds for healthcare services. The increasing spending on healthcare is only sustainable if it results in an absolute decrease in per capita GDP.

The rising cost of healthcare has impacted the US economy in several ways. Healthcare expenditures have been higher than GDP growth over the years in the United States of America. This has indeed raised several concerns among the country’s economists who think it will adversely affect the country’s economy if not addressed in good time. The biggest concern is that overspending on healthcare is likely to adversely affect the country’s economic indicators such as employment, inflation, and per capita GDP (Haeder). For example, if the government is forced to increase taxes being charged on various businesses to raise money for the provision of health insurance and improve health services across the country, this is likely to force some businesses to close down thus leading to unemployment. Moreover, the increased spending on healthcare will force the government to increase borrowing to raise money for such services thus leading to the rapid rate of inflation.

To solve these problems, Congress has passed the Affordable Healthcare Act aiming at ensuring that the cost of healthcare becomes affordable for the lower income individuals. The private sector has been the most affected in terms of growing expenditures in healthcare. This is so because employer-sponsored healthcare is the majority in the US (Andersen). This sector attracts several employers because income and payroll taxes do not apply in this case. Therefore, an increase in healthcare spending will erode profits gained by these private individuals in the provision of healthcare services. Also, employers who are faced with increased healthcare premiums are likely to lay off some workers to maintain profits. However, rising healthcare spending might not adversely affect employers if their employees bear incidences of such rising costs (Haeder). In case, the employers are the ones that bear incidences of high healthcare costs then their profits will reduce thus forcing them to cut employment. In addition, an increase in health insurance premiums will result in a reduction of employees while at the same time leading to an increase in working hours. For example, the increase in health insurance premiums during the 1980s led to a 3% increase in working hours (Ory). This increase in working hours is because health insurance premiums are fixed cost thus compelling employers to increase working hours to compensate for the cost.

The rising cost of healthcare will also lead to high prices of basic commodities such as foodstuffs, clothing, housing, etc. As stated earlier, the government usually increases taxes on businesses and companies to raise money for the provision of healthcare services. This is harmful to the country’s economy because it leads to an increase in manufacturing costs which ultimately makes those firms increase the prices of basic products.

The major political parties involved are the Democratic and the Republican parties. An unexpected move by the Trump organization to strike down the Affordable Care Act pushed the divided fight over human services into the center of the 2020 battle on Tuesday, giving Democrats a potential political blessing on an issue that harmed Republicans seriously a year ago in midterm races (Andersen). In another court recording, the Justice Department contended that the ACA, otherwise called Obama care, ought to be tossed out completely, including arrangements securing a great many Americans with previous well-being conditions and enabling youthful grown-ups to remain on their folks’ social insurance plans. President Trump commended the move amid a lunch with Senate Republicans and proposed the GOP should grasp another congressional fight over medicinal services arrangement in front of the 2020 decisions.

Republican legislators offered varying reactions to the organization’s new court recording, however, none offered help for tossing out all of Obama care without a prepared substitution for its most well-known components. Some Republican congresspersons made light of the possibility that the 2010 human services law was quickly in danger and said they would work to ensure those with prior conditions would be secured regardless (Healthcare.gov). The destiny of Obamacare depended on the Supreme Court, which has introduced two moderate judges since it cast a ballot to maintain the milestone medicinal services law in 2012.

The elements of ACA have been generally judged as positive by Americans and these elements need to be retained. Particularly, replacement or reform legislation-whichever phrase is favored-need to continue with:

• Prohibition of insurance firms from charging higher premiums or denying coverage due to pre-existing circumstances.
• Prohibition of lifetime restraints or limits for healthcare costs.
• Prohibition of “rescission “coverage for reporting on the application of immaterial inaccuracies.
• Allowing parents to include their respective children on their respective policies till age twenty-six, requires simplified and standardized enrollment as well as paperwork for health insurance.

Nonetheless, the policymakers have to comprehend the prerequisites of such gains/benefits. Specifically, pure voluntary health insurance enrollment in the absence of discriminating against pre-existing circumstances/conditions might encourage the healthy ones to refute the contribution to a risk pool till they fall sick. This shall culminate in an insurance “death spiral” whereby the cost of premiums will increase since the healthy stop paying premiums (Healthcare.gov). They will then inspire additional healthy people to refute the enrollment and increase the premium even further. Consequently, the following recommendations or suggestions for ACA changes are selected to spread the benefits and costs in a market-focused, sustainable manner.

Kate M. Bundorf, an associate professor of health research and policy at the Stanford School of Medicine, has researched healthy policy and healthcare systems’ economics. She claims that the Affordable Care Act increased health insurance coverage dramatically and this worked. About 13 million fewer uninsured individuals in the year 2015 as compared to the 2013 statistics. Obama Care further surged health insurance government expenditure since most novel enrollees got subsidized coverage, via Medicaid or exchanges. She highlights the controversy existing about whether Obama Care did or would slow healthcare expenditure’s growth rate. Her take was that whereas a slowdown in per capita spending growth was observed around the ACA’s implementation period, it is never precise that a dramatic increase in health insurance coverage was propelled by ACA provision. Indeed the Affordable Care Act has significantly assisted with the decrease in the number of uninsured Americans without neatly 20 million more Americans receiving health coverage since the ACA passage back in the year 2010.

The Affordable Care Act was put in place to ensure that all Americans receive the same quality care and plans without any type of bias criteria. Also, it is helping people who could not afford plans by having the healthcare market placed which is fair and equal. Even though the plan may have its benefits and drawbacks it is still going in the right direction to help millions of people who need the insurance coverage without any block or limitations.