The world's population is expected to continue rapid growth but peak around 2075 at a level around 9.2 billion (Alexandratos, 2005)
A world with a stable population can reach a level of economic development where living standards are high and gains are incremental based only on technological innovation -- Japan today is as close to an example as we have. It has even been shown that if the world's population grows at a quasi-arithmetic rate as opposed to exponential that non-decreasing per capita consumption is feasible (Asheim, et al
Additionally, as there are negative externalities not accounted for in the basic measurement systems (financial statements), they will not be taken into account when the rational assessment of one's situation is taken into account. Corporations are strictly oriented towards short-term maximization of shareholder wealth (Friedman, 1971), not to maximizing resource acquisition, efficient use of resources or much of anything else to do with resources
He understood the relevance of financial constraints, but also was in a position as the central banker to loosen the purse strings and relieve those constraints. His view traditionally was that industries would protect resources out of self-interest (Nair, 2009)
Smith argued that trade was a better solution. Smith's vision of trade held the issue of scarcity should be better addressed through trade because this enabled for maximize efficiency in the use of resources (Snowdon, 2003)
S. Moreover, the tax burden on these lower income tiers has actually increased in recent years (by about 15%) while the tax burden on the upper tiers has been reduced by a like percentage (Franken 59)
Economic development has, in fact, resulted in increased fossil fuel extraction and consumption. This will only serve to aggravate climate change impacts and hurt biodiversity, since a number of species cannot effectively adapt themselves to the constantly warming earth (Colman 2)