Step 1: Context.
This question comes from the chapter "Lost Spring" by Anees Jung, describing the lives of families in Firozabad's glass bangle industry.
Step 2: Health hazards.
Children and workers work in dark, poorly ventilated rooms with furnaces, often leading to lung diseases and gradual loss of eyesight.
Step 3: Social issues.
Generations of families are trapped in poverty, unable to break free due to debt, middlemen, and lack of proper education.
Step 4: Conclusion.
Thus, the glass bangle industry exposes workers to health risks and perpetuates social exploitation.
Final Answer: \[ \boxed{\text{Hazards = Blindness, diseases, child labour, and poverty trap.}} \]