sustainable ecomomics

sustainable ecomomics

Sustainable Economics

1. Introduction to Sustainable Economics

For the intent and purposes of the three dimensions of sustainable economics, we start the paper with an extreme example of unsustainability: natural disasters that have recently occurred in various parts of the planet. The property of land is better served if it is covered by forest, which serves as a natural reservoir to hold rainwater and provide an ideal ecosystem for every livelihood. The plantation for the whole planet is reducing due to deforestation, which is manifested as more frequent and severe natural disasters that occurred during the last few years. The problem is further amplified by the hot ecology, as a result of global warming, melting snow to flood the land, uprooting the trees, and subsequently drying or deserting the land. Therefore, once the area is occupied by McForest, the land loses its last natural rehabilitation, and people are prone to disaster. Our personal knowledge also reduces if we are blind to what we are doing. Speaking of this problem, a lot of institutes and meetings have been held to discuss how to sustain the earth. Are there any untenable solutions present to this urgent problem?

In the methodological dimension, it could borrow widely from other disciplines, including ecological economics, social economics, and others that are not considered in mainstream economics, to construct a new theoretical framework. Then, in the knowledge dimension, it could consider including more principles, factors, or functions in wider categories of knowledge, not only confining to market and monetary ones. Finally, in the policy dimension, it should substantiate measures and mechanisms in terms of complex interactions.

Sustainable economics provides the theoretical foundation for the increasingly popular concepts of sustainable development and corporate social responsibility, which have been adopted by various sectors of society. It displays multidimensionality in various aspects.

2. Benefits of Sustainable Economic Practices

Siobahn Fox, in her book “The Perfect Brew: A History of Coffee,” mentions the complex causes for the formation of the coyuntura. These included moral factors, contract-based or low-paid wages, unpaid workers, and struggling farmers from Nicaragua, Salvador, and increasingly from all of Central America. All these present-day problems were very much aggravated during 1880 to 1920 in El Salvador. Ironically, one of the significant dates during this period of troubles was the time when Don Cofino gave up the world of coffee. He burned his house and the coffee estate located in the middle of the coffee plants. He was struggling to recover his properties and to receive a just salary from his father, who had left to participate in a political conflict. The family’s properties and the surrounding environment and moral values are known to be very important factors constituting and inter-influencing the human lives. The industry’s origin and also the present-day concerns of humanity surround the coffee industry. Despite the sustainable existence of the rice and food crops, which are an important part of women’s livelihood and empowerment, the coffee industry is proving to be a demand-stable sector for the future, as predominantly community focuses the socioeconomic growth of any economy. The discussion suggests (1) the significance of undertaking a common yet complex process of integrated community development, (2) the significance of decentralization, and (3) the choices of the country, as one of the key strategies that the nation should consider from the ethical point of view, besides economics that can cater to the growing human interest in the coffee beverages, and the challenges associated with the industry’s future are outlined and discussed.

Benefits of sustainable economic practices. The discussion points to the negative impact of the coffee industry on the environment and the associated burden on human livelihood. At the same time, there is little doubt about the benefits to humanity associated with the coffee industry meeting the growing desire for the consumption of this beverage. The said fact requires a strategy that can cater to both, meeting the growing demand for the beverage and at the same time taking care of the associated environmental implications. People choosing this strategy could not have appreciated the environment to be the only available choice at the time of the industry’s origin. Coffea was brought from native Africa to Yemen and then to the world. However, there is much reluctance in the later stages of the coffee industry to appreciate the value of the mother earth, where the industry originates. The discussion points to the possibility of environmental and social deterioration of the problem persisting, which can even make the coffee industry unsustainable over time and in turn undesirable and non-beneficial.

Sustainability: An integral aspect of women empowerment in the coffee industry.

3. Strategies for Implementing Sustainable Economics

Resilience, broadly construed, is the ability of complex adaptive systems to survive, to persist, and to adapt in the face of both internal and external stresses. Resilient systems, such as those found in nature and explained so well by in The Origin of Wealth, have the ability to absorb stress, to remain cohesive, and to bounce back. ‘s management work also demonstrates that we are best able to link two or more systems by developing a third coordinating system that increases system robustness. Redundant, diversified system connections also appear to enhance interconnected system resilience. Restoring soil function, facilitating the hydrologic cycle, and regenerating ecosystem function in this way should be fundamental economic functions that have long not found a place in the formal economy. The implementation of this general strategy is to increase the direct efficiency of indirect labor inputs.

Many diverse strategies are available to implement the approach to sustainable economics. In general, most evolutionary paths to sustainable economics should involve both mitigation and adaptation components. However, only those approaches that significantly enhance system resilience will yield truly sustainable economic systems. Resilient system designs usually mimic those found in nature, whereby redundant and diversified connections reduce the likelihood of catastrophic, system-wide collapse. suggest 25 strategies to create a more resilient global economy and to reduce the likelihood that it will move into one of four potential basins of stability that they identify. suggest that simple “nudges” can move economic agents to more closely approximate rational behavior and thus enhance system resilience.

4. Challenges and Solutions in Sustainable Economics

14 years of practical experience in using the concept of sustainable development has shown that it is very well combined with issues of implementing large strategic projects and working on the state’s part of the economy. Therefore, we are confident in the conclusion that radical changes in the general concept of state regulation of affairs, and especially for the most effective transformation of the economy in connection with accession to the WTO and recession removal, can only be achieved through long-term adjustment based on sustainable development. Making humanity more harmonious and equitable. At the present stage of human development, in order to preserve economies from stresses, we need to work out strategies and technologies for transitioning from irrational to rational models of natural resource usage on Earth. We should work out a strategy for the dual “survival of the world and Russia” with the purpose of rational development of the Earth while preserving today’s cultural and natural values.

The vision and strategy of sustainable development were formulated 20 years ago, identifying three constituent parts of sustainability – economy, ecology, and the social sphere. The roots of civilization, and its fundamental properties, such as the relationship between the market and the state, are not exhausted by the economy, society, and the ecosystem. The world places before us questions on resource, financial, and social crises, destruction of ecological systems, imbalance in our relationship with nature, growth of poverty, and deterioration of the quality of life. There is an urgent need for organizing means and ways to advance the most powerful knowledge of mankind on economic and social phenomena, economic systems, and the economic environment. It is a question, at last, of the problem of creating a system of economic theory.

5. Conclusion and Call to Action

Considering the developed society, in 1971 Karl Polanyi observed that in a liberal society we were witnessing a contradiction between the necessity of economic growth and the necessity of social and ecological equilibrium. The assistants at the U.S. Senate were the first to suggest, only 5 years later, a new concept of society. In his opinion, the demand for a “good life” is multiplied by the existence of the living standard, being a notoriety that it is sustainable only if taking into account the survival conditions of our planet over time. He proposes the idea of sacrifice as a possible way to assure the survival of future generations. We also consider that the medium of apprehension from the planet is insufficient and we therefore propose a complementary concept. What can be sacrificed for the benefit not only of the biosphere, but also of humanity? None can sacrifice the fundamental right to life. For it, the concept of sustainable human development is necessary. According to this, all discarded actions have to be evaluated depending on their implications upon future generations (new damages and damages reparation after risk plans).

We can assume that most people are familiar with the tags “Private” and “Public”. A property is private when its owner, a person or a company, can manage it according to his/her needs. It is public if the upholders have the opportunity to shape its management direction in some manner. The market is mainly constituted by private goods, the goods where property is private. Because it is generally impossible to exclude people from using an open space house for example, it is considered a public place. The alternative to the market in the creation and administration of public goods is the State, and most countries have control of such goods. The private ownership of the means of production is assured by the existence of employed work; the property of services can be ensured by a good educational system, while the property of stocks can be assured by private pensions.