What do you mean by limit of growth?

Limits Of Growth:-

The second half of the twentieth century showed a great rise in economic growth and life style in almost all countries of the world, in fact over 180 countries of about 200countries under the United Nations have improved treme-rabigly-ArtlieeYdThri-he twentieth century came the globalization which has given a big opportunity to all countries to utilize each other's resources with proper planning and through WTO. With the rise of living standard the resources position started becoming scanty and scare in most of the countries except for some resources which are non-renewable, only some agricultural products are renewable that also is not the case with generation and production of wood and timber. USA alone with 5% of world population consume over 30% of the world's resources. Like this Russia, China, japan, India, Korea, Taiwan, along with all small developing countries like some African and Middle East countries, some South American countries are also consuming steel, cement, petroleum etc. as well as FMCG products like bread, butter, tooth paste, biscuit, etc. All these taken together the
net result is the shortage of resources already felt which is likely' to be further deteriorated.

This will mean two things:

1. Either man will have to slow down their pace of growth , or

2. They have to go on innovating, creating and producing newer and newer materials fast as they are depleted.

            None of the above two proposals is very easy to follow as the humanity, at large, by pressure of circumstances is unlikely to agree to slow down the pace of economic growth as that would create many other problems.
On the other hand innovation and recreation of energy, mineral and plant and animal resources require continuous research and development engaging huge high quality manpower, huge investment and instead of systematic research, they may have to depend on serendipity i.e. sudden and unexpected miraculous invention of new products and services.

              This will compel man in course of the first century of the third millennium to accept a limit of growth of economy of the world as a whole. This will on the one hand offer food, clothing and shelter to humanity and reduce the luxurious life style using air conditioner, luxury cars, jet aircrafts for uneconomic flights, high quality and highly expensive social functions etc. This according to Prof Galbraith, an authority on economics and one time American Ambassador to India, is known and termed as "limits to growth".