strategy

Developing sustainable economic systems

Context:

Current economic growth is unsustainable, and by definition cannot last. In order to strive for sustainable and thus stable and lasting economic maintenance/development, environmental degradation and resource use need to be uncoupled from economic growth, among others requirements. Population levels also need to be brought under control. Sustainable principles, such as those mentioned above, need to be developed and incorporated into economic systems.

Implementation:

Transformation of the market economy depends upon at least two factors: policy integration and the correction of the relative prices of goods and services to reflect the environmental impacts caused by their production and consumption.

The New Economics Foundation was established in 1986 to undertake policy development, research and education work in connection with the development and promotion of a new economics which gives due weight to social justice, the satisfaction of the whole range of human needs, the sustainable use of resources and the conservation of the environment.

Claim:

The world stands at a crossroads, with divergent paths leading to unprecedented scarcity and want on the one hand, and a new era of conservation-driven prosperity and plenty on the other. Never before have environmental factors - beyond simple supply-and-demand economics, and beyond partisan politics - played such a critical role in determining the future health and happiness of mankind.

 

Type Classification:
C: Cross-sectoral strategies
Related UN Sustainable Development Goals:
GOAL 1: No PovertyGOAL 2: Zero HungerGOAL 3: Good Health and Well-beingGOAL 4: Quality EducationGOAL 5: Gender EqualityGOAL 6: Clean Water and SanitationGOAL 7: Affordable and Clean EnergyGOAL 8: Decent Work and Economic GrowthGOAL 9: Industry, Innovation and InfrastructureGOAL 10: Reduced InequalityGOAL 11: Sustainable Cities and CommunitiesGOAL 12: Responsible Consumption and ProductionGOAL 13: Climate ActionGOAL 14: Life Below WaterGOAL 15: Life on LandGOAL 16: Peace and Justice Strong InstitutionsGOAL 17: Partnerships to achieve the Goal