But on the other hand, industrialization contributes to the growing ecological crisis. Limits to growth Doom and gloom predicted for the mid 22 century. Famine, pestilence, poverty, increased death rates, industrial activity declining as resources are used up. As the pie gets smaller, wars will break out, and the population will begin to decline as the human race fights to the bitter end for its fair share of the riches. Critics of the limited growth hypothesis say that technology and market forces will correct the doom and gloom scenario.
Some environmental problems are inherently global in scope and require international cooperation.
Biodiversity refers to the number and variety of species and the range of their genetic makeup. Biological diversity is now at its lowest level since the disappearance of the dinosaurs some 65 million years ago. A major reason for the decline in the earth s biodiversity is the destruction of rain forests, particularly in the tropics. Eco-efficiency is only possible in the presence of open, competitive markets in which prices reflected the true cost of environmental and other resources. Many firms around the world have tried to determine how sustainable development translates into actual business practices.