A rapid growth rate is preferred to a slow growth rate. This however may be achieved at a high cost by way of current cost.
1] If economic growth ie an increase in GNP and PCI is achieved without any structural or distributional changes in the society then the problems of poverty, inequality, unemployment, illiteracy etc will continue.
[eg growth which fails to create employment is “JOBLESS GROWTH” &
Growth which widens the gap between rich and poor is “RUTHLESS GROWTH”].
2] Economic growth causes problems of pollution, global warming, ozone depletion and other problems.
3] More is not always better if it means dead end jobs, burn out and alienation from one’s job.
4] A high economic growth increases stress.