Natural capital in the global crisis context
The global economic crisis has created conditions for the emergence of new perspectives on economic growth in the context of sustainable development. Theoretical and practical confrontation between economic growth theory and the theory of conservation of the natural environment revealed some unknown...
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| Format: | Article |
| Language: | English |
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General Association of Economists from Romania
2014-08-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/1012.pdf
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| _version_ | 1819142229869985792 |
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| author | Constantin CONSTANTINESCU |
| author_facet | Constantin CONSTANTINESCU |
| author_sort | Constantin CONSTANTINESCU |
| collection | DOAJ |
| description | The global economic crisis has created conditions for the emergence of
new perspectives on economic growth in the context of sustainable development.
Theoretical and practical confrontation between economic growth theory and the
theory of conservation of the natural environment revealed some unknown,
uncertainties and interpretation errors. Although it is often used by economists, the
term “natural capital” interpreted differently by users and therefore the
approaches about its efficient use are different, ranging from proposals to limit
growth in the purpose of the conservation of natural capital to liberal attitudes
based on the principle of neoclassical theory letting prices to establish economic
and social importance of the environment. The global crisis has demonstrated that
equilibrium between economic growth and reducing environmental impact is
difficult in conditions of instability. Consequently, the problem of finding the
optimal level of balance between social benefits of development and costs of
environmental protection is intractable when the economic variables know a high
volatility and political decision must to take into account more the social factor.
Global economy during the crisis has shown that the solution represented by
measures to reduce the rate of deterioration of ecosystems is consistent only under
conditions in which is accompanied by investment in recovery of natural capital
and the environment is integrated by this way in the whole economic and social
process. It outlines a new model of development in which politico-economicfinancial
system can positively influence natural capital stocks by increasing the
quality of policy makers and investment in knowledge capital. |
| first_indexed | 2024-12-22T12:07:02Z |
| format | Article |
| id | doaj.art-05f64647a3e241f6a6f25b5e8a5ca440 |
| institution | Directory Open Access Journal |
| issn | 1841-8678 1844-0029 |
| language | English |
| last_indexed | 2024-12-22T12:07:02Z |
| publishDate | 2014-08-01 |
| publisher | General Association of Economists from Romania |
| record_format | Article |
| series | Theoretical and Applied Economics |
| spelling | doaj.art-05f64647a3e241f6a6f25b5e8a5ca4402022-12-21T18:26:24ZengGeneral Association of Economists from RomaniaTheoretical and Applied Economics1841-86781844-00292014-08-01XXI8679818418678Natural capital in the global crisis contextConstantin CONSTANTINESCU0 Bucharest University of Economic Studies, Romania The global economic crisis has created conditions for the emergence of new perspectives on economic growth in the context of sustainable development. Theoretical and practical confrontation between economic growth theory and the theory of conservation of the natural environment revealed some unknown, uncertainties and interpretation errors. Although it is often used by economists, the term “natural capital” interpreted differently by users and therefore the approaches about its efficient use are different, ranging from proposals to limit growth in the purpose of the conservation of natural capital to liberal attitudes based on the principle of neoclassical theory letting prices to establish economic and social importance of the environment. The global crisis has demonstrated that equilibrium between economic growth and reducing environmental impact is difficult in conditions of instability. Consequently, the problem of finding the optimal level of balance between social benefits of development and costs of environmental protection is intractable when the economic variables know a high volatility and political decision must to take into account more the social factor. Global economy during the crisis has shown that the solution represented by measures to reduce the rate of deterioration of ecosystems is consistent only under conditions in which is accompanied by investment in recovery of natural capital and the environment is integrated by this way in the whole economic and social process. It outlines a new model of development in which politico-economicfinancial system can positively influence natural capital stocks by increasing the quality of policy makers and investment in knowledge capital. http://store.ectap.ro/articole/1012.pdf natural capitaleconomic growth theoryeconomic crisis |
| spellingShingle | Constantin CONSTANTINESCU Natural capital in the global crisis context Theoretical and Applied Economics natural capital economic growth theory economic crisis |
| title | Natural capital in the global crisis context |
| title_full | Natural capital in the global crisis context |
| title_fullStr | Natural capital in the global crisis context |
| title_full_unstemmed | Natural capital in the global crisis context |
| title_short | Natural capital in the global crisis context |
| title_sort | natural capital in the global crisis context |
| topic | natural capital economic growth theory economic crisis |
| url |
http://store.ectap.ro/articole/1012.pdf
|
| work_keys_str_mv | AT constantinconstantinescu naturalcapitalintheglobalcrisiscontext |