An Overview of Obstacles to Sustainable Economic Development

پائیدار معاشی ترقی کی راہ میں حائل رکاوٹوں کا جائزہ

Abstract

Economic inequality arises when wealth becomes concentrated among a few individuals or groups, leaving the majority deprived of basic necessities and destabilizing social balance. This disparity leads to poverty, social unrest, and a rise in crime, negatively impacting a country’s sustainable economic development. Monopolization of wealth by a small fraction limits social mobility and opportunities, resulting in widespread unemployment and poverty. The erosion of public trust in governance further intensifies social and political instability, undermining the essential economic stability required for sustainable growth. Addressing unequal wealth distribution requires targeted government policies that ensure a fair allocation of resources, promote social justice, and create equal opportunities for all citizens. Essential measures include access to quality education, healthcare, and social services, alongside strengthening social protection systems. Implementing a fair taxation system, poverty reduction programs, and fostering equal opportunities across various economic sectors are vital steps to reduce inequality and support sustainable development. Furthermore, the main barriers to sustainable economic development include unemployment, corruption, economic inequality, poverty, imbalanced trade, low investment, and unequal wealth distribution. These challenges require comprehensive government intervention focused on social justice, economic stability, and human resource development. By tackling these obstacles through effective policies, sustainable economic growth can be achieved, fostering a more equitable and prosperous society.