Question

Review the chapters and videos and reflect on what you have learned about the "sustainability" problems with our economy and conventional economics. Write a two-page presentation of your own views in your own words about whether you agree that such problems exist, and if they do, whether the proposed solutions are adequate, appropriate, and sufficiently detailed and capable of being put into practice.

Answer 1

Sustainability problem with our economy and conventional economics

Economic sustainability refers to practices that support long-term economic growth while not negatively impacting the social, environmental, and cultural aspects of the community.

What Is sustainable Economic Growth?

Sustainable economic growth is economic development that makes an attempt to satisfy the wants of humans however in a very manner that sustains natural resources and also the environment for future generations. an economy functions within the scheme. we tend to cannot separate the economy from it. In fact, an economy cannot exist while not it. The scheme provides the factors of production that fuels economic growth: land, natural resources, labor, and capital sustainable economic process is managing these resources in a very manner that they'll not be depleted and can stay offered for future generations

Sustainability problem with our economy

While there was agreement that totally different industries are affected otherwise by changes in climate, legislation, and neutral behavior/attitude, there some clear general themes from our discussion that seem to be having a widespread impact on the manner we do business and develop brands for the long run.

In debates over climate change, for instance, environmentalists typically argue that as a result of the production and consumption of market merchandise and services is that the proximate reason behind greenhouse emission emissions, stabilizing climate would require some curtailment or maybe the reversal of economic growth


While several economists and other people disagree regarding the importance of the environment relating to the economic activity, the subsequent facts are rarely disputed:

1. The extraction and depletion of natural resources, moreover as pollution and permanent changes created to the landscape, are caused by economic activities and might do damage to the environment.

2. several of the costs of the damage created by economic activities don't seem to be borne by people who cause it however by others who neither acquire the advantages from the economic activity or comply with pay the costs associated with it. Pollution may be an excellent example. Businesses are allowable to pollute to a specific degree (less currently than within the past). They don't just get hold of the pollution, however, society will by dirty air, water, and contaminated soil that have an effect on the standard of our air, water, and food. This pollution will result in serious health effects, which can scale back the standard of life and health of the population. we tend to decision a value borne by somebody who didn't comply with bear it an externality.

3. Humans board a scheme and can't survive without it. If we tend to destroy the environment, we are going to eventually destroy ourselves.