disadvantage of industrial development
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Environmental Disadvantages:
By far, the biggest negative effect of industrialization is on the environment. Because many industrialized companies are often not forced to pay damages for the environmental harm they cause, they tend to impose a major negative externality on human society in the form of deforestation, extinction of species, widespread pollution and excessive waste.
Financial Disadvantages:
Financially, industrialization results in a wide gap between the rich and poor due to a division of labor and capital. Those who own capital tend to accumulate excessive profits derived from their economic activities, resulting in high disparity of income and wealth.
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