What are the costs and benefits of economic expansion?

Question

What are the costs and benefits of economic expansion?

Answer 1

Costs could include ecology, non-renewable resources, social instability, higher stress level, increased risks, and other externalities.

Benefits are higher standards for quality of life, health, education, comfort, economical stability, etc.

Answer 2

Economic expansion entails a mixture of population growth, growth in productivity, and expansion of raw materials consumed.  These are more interrelated factors than they are necessarily causes or effects.  Population growth is a mixed blessing; nature becomes comparatively more scarce and increasingly a public good, but people benefit concretely from each others' ideas.  (E.g., Metcalfe's Law applies here.)  But the sequel of thoughtlessness or unconscientious behaviour can be both larger and harder to recognise at times.  Growth in raw materials consumption may not be a problem in itself, because the world is vast and substitutes are usually available at some price, which usually falls over time.  But the side effects of resource extraction are often concentrated far from where the materials are consumed, and can often be paradoxical and counter to one's hopes.  (E.g., Dutch disease.)  Finally, productivity growth spawns cycles of interesting ideas that can be beautiful and unexpected; but old techniques with appeal for the maker and consumer alike, can often fall into impracticality and disuse.  On balance, I like most of the fruits of growth, but also doubt there is a better option.  I think it helps to think about what we lose and gain in the inevitable bargain.