Image via WikipediaSustainable economics aims to explain how economies can thrive within the earth’s ability to provide the resources necessary for life. Despite multiple and sometimes divergent visions of sustainable economy, macroeconomic models that sufficiently conceptualize and test assumptions about sustainable economy are rare. Yet, policies that enable sustainable economies are urgently needed, as there is now strong evidence supporting arguments.
Currently, economic growth, defined as an increase in the quantity of goods and services produced, is a primary government goal considered essential for human well-being. Although some people argue that economic growth, at least in wealthier countries, may be the wrong focus for policy, the search for solutions is particularly challenging.
Traditionally, investment in new technology is considered to be one of the main economic growth drivers, but short-term technological fixes are no longer adequate for solving today’s pressing environmental problems. One thing we do know is that governments with a strong long-term vision achieve better results, but the vision needs to be positive. In addition, governments need to understand the end game and then devise ways to get there. To be revolutionary, they need to figure out the evolution.