The balance of growth

The need for economic growth is largely understandable. Growth in an

economy allows the nation to attain, or achieve greater prosperity for its
people (i.e. improving their standard of living). However, there has been a
strong consensus amongst many governments that unlimited or rapid growth
would bring about adverse consequences. Unlimited growth often requires
rapid depletion of resources, harming not just the environment per se, but
standards of living of future generation. Rapid growth, unless driven by
productivity, might also lead to undesirable inflationary pressures. Hence, the
key is balance.