These days wealthy in the society often throw away perfectly good products in order to replace them with more up-to-date models. Do the enviromental disadvantages outweigh the economic advantages ?

With the rise in technological advancement, things are upgraded at a very fast pace. Nowadays, products that are working fine are being replaced with their advanced version by rich customers. I certainly believe that environmental disadvantages outweigh economic advantages supported by compelling reasons.

Moreover

, Major environmental drawbacks are that not only the carbon footprint increase but

also

the natural resources decrease.

On the other hand

, there are certain economic advantages of

this

trend as well. The benefits of

this

activity are both stimulations in economic activity and innovations in technological progress. One of the major drawbacks is that carbon emissions will increase.

Due to

the rise in consumer demand,

subsequently

, there is an exponential increase in production.

As a result

, we see a surge in industrial emissions. These emissions will deteriorate the environment.

For instance

, increased demand for new vehicles in Dubai has caused companies to double their production. Another demerit of

this

behaviour

is that it causes natural resources to deplete significantly.

For example

, the State of Pakistan which has an

an

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abundant supply of natural gas has now facing gas shortages. Despite the fact

this

behaviour

deteriorates the environment it provides some opportunities for economic development.

On the contrary

, there are some economic merits of

this

behaviour

. One of the main economic benefits is that it causes boosts in economic activity. More employment opportunities have been created.

For instance

, Car manufacturing company Tesla claims to have tripled the number of employees in the

last

decade. Another advantage is that it forces companies to invest in research and development. So they come with more technologically advanced solutions. In conclusion, despite the fact buying

behaviour

of the wealthy have few significant benefits related to the economy, still its Consequences for to deterioration of the environment should not go unchecked. I certainly consider these