How do we measure economic sustainability ?
At the moment companies are reluctant to change to economic sustainable methods. Resistance to change can often lead to a less than efficient use of available resources. A failure to track expenses and justify expenditures will also have an effect on the long-term stability of the company and limit the potential for sustainability. If we as a community do not start looking into the future our old habits will start to come back and we will not have sufficient supplies of our resources for our future. We measure economic sustainability by monetary terms such as worth of assets and resources in dollar figures is common, as is identifying the amount of return generated by the efficient use of those resources. Basically in shorter terms how we measure economic sustainability is to figure out operation in which resources are not being utilized in the most efficient manner, and take the steps to correct these situation, While at the same time, the proposed changes to the operation.
When did economic sustainability come about ?
Economic sustainability originated in about 1969 with the incorporation of the National Environment Policy Act A.K.A (NEPA) whose mission is to foster and promote the general welfare, to create and maintain conditions under which man and nature can exist in productive harmony and fulfill the social, economic, and other requirements of our present and future. Economic sustainability has been around for a long period of time it has no real date to be described as when it first came about . Fortunately we do know economic sustainability came about during the 17th - 19th century.
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Where does economic growth come from ?
definition of economic growth : Economic development is the sustained, concerted actions of policy makers and communities that promote the standard of living and economic health of a specific area. Here are four issues that matter in economics: growth, stability, sustainability and fairness. The developed world has, been engrossed with stability and sustainability of late .Economic growth is not about money or commerce: it is about increasing the real value of goods and services produced. Money and commerce are instruments to achieve this goal.
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