5636914
Description
Mind Map by Bhavana Kanagala, updated more than 1 year ago
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Created by Bhavana Kanagala
over 8 years ago
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PROBLEMS DUE TO ECONOMIC LIBERALISM
- POVERTY/DEBT (CONSUMERISM)
- Economic liberalism gives people large amounts
of economic freedom. People buy various
different things with money they don't have; they
simply use credit cards and loans. But when it is
time to pay it all back, interest mounts up and
they go into debt. It also exploits workers of
companies, mainly in third world countries. The
never-ending need for massive amounts of
products leads to companies forcing their
workers to overwork for very low wages and
horrible working conditions. This leads to even
more poverty and debt in the already
economically unstable countries.
- Economic liberalism gives people large amounts
of economic freedom. People buy various
different things with money they don't have; they
simply use credit cards and loans. But when it is
time to pay it all back, interest mounts up and
they go into debt. It also exploits workers of
companies, mainly in third world countries. The
never-ending need for massive amounts of
products leads to companies forcing their
workers to overwork for very low wages and
horrible working conditions. This leads to even
more poverty and debt in the already
economically unstable countries.
- ENVIRONMENTAL/CLIMATE CHANGE
- To satisfy the never-ending needs of consumers, companies
need to make as much product as they can. Competition is
an economic principle of liberalism which allows companies
to compete with each other for customers. Competition
leads to vigorous production of goods and services. This has
a very negative affect on our planet. Habitats are being
eradicated to meet consumer needs. Greenhouse gas
emissions are increasing day-by-day. This is resulting in a
warmer, less habitable planet for certain organisms.
- Liberalism is offering solutions to this issue. An
example of this is the Kyoto Protocol. Although not very
efficient, it is a step towards reducing greenhouse gas
emissions all over the world. Many different liberal
democracies are part of the Kyoto Protocol and are
working together.
- Liberalism is offering solutions to this issue. An
example of this is the Kyoto Protocol. Although not very
efficient, it is a step towards reducing greenhouse gas
emissions all over the world. Many different liberal
democracies are part of the Kyoto Protocol and are
working together.
- To satisfy the never-ending needs of consumers, companies
need to make as much product as they can. Competition is
an economic principle of liberalism which allows companies
to compete with each other for customers. Competition
leads to vigorous production of goods and services. This has
a very negative affect on our planet. Habitats are being
eradicated to meet consumer needs. Greenhouse gas
emissions are increasing day-by-day. This is resulting in a
warmer, less habitable planet for certain organisms.
- RESOURCE USE AND DEVELOPMENT
- Again, the use of precious resources to need consumer needs has many
negative affects. Principles of liberalism such as competition,
self-interest and economic freedom are to blame for the decreasing
amounts of resources everyday. Farmland and traditional ways of life
are lost due to rapid use of resources and development. The love for
liberalism of developing countries result in many negative affects. The
use of petroleum releases harmful air which pollutes the environment.
- Again, the use of precious resources to need consumer needs has many
negative affects. Principles of liberalism such as competition,
self-interest and economic freedom are to blame for the decreasing
amounts of resources everyday. Farmland and traditional ways of life
are lost due to rapid use of resources and development. The love for
liberalism of developing countries result in many negative affects. The
use of petroleum releases harmful air which pollutes the environment.
- PANDEMICS
- Principles of economic liberalism such as self-interest allows people to
travel more internationally. Liberal democracies mostly choose not to
close their borders and restrict tourists and immigrants. This causes the
rapid spread of pandemics. Pandemics can kill millions of people if they
start spreading, but liberal countries simply choose not to shut their
doors.
- Liberal democracies usually work together to fight off
world-wide problems such as pandemics. International
health organizations such as the World Health
Organization establish protocols and work on lowering
the effects of these pandemics.
- Principles of economic liberalism such as self-interest allows people to
travel more internationally. Liberal democracies mostly choose not to
close their borders and restrict tourists and immigrants. This causes the
rapid spread of pandemics. Pandemics can kill millions of people if they
start spreading, but liberal countries simply choose not to shut their
doors.
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