Instytucjonalne uwarunkowania wartości kapitału naturalnego w procesie modernizacji gospodarki w kierunku zrównoważonego rozwoju
Institutional determinants of the value of natural capital in the process of modernization of the economy towards sustainable development

Summary/Abstract: The article presents the institutional determinants of natural capital value. Thus, an attempt was made to demonstrate how difficult it is to find an objective dimension of this category of capital resulting from cultural diversity. The process of modernization was shown as included in a specific philosophical social context consisting of making changes, which are a determinant for new thinking in a particular area, which in turn is related to the process of structural differentiation in society. Today the consequence of such a social change is the realization of sustainable development paradigm with its main postulate of sustainability of natural capital. The analysis lends support to the hypothesis that the modernization of the economy towards sustainable development is conducted in a particular system of institutional balance.

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