Sustainbility in the Economic Sense
Sustainbility in the Economic Sense

Author(s): David Novak
Subject(s): Politics / Political Sciences, Social Sciences, Economy
Published by: Vysoká škola ekonomická v Praze
Keywords: Sustainability; effects on economics and business
Summary/Abstract: Purpose: What is the perception of sustainability in the economic sense? Human behaviour cannot continue in the actually given way as the usage of natural resources exceeds regenerating ability of the earth. The result of human behaviour is called ecological footprint of human mankind; it will have crucial impacts on national economies and the business of its companies via external diseconomies. Indicators, values and consequences get investigated. Design/methodology/approach: Any here discussed objectives are only a small extract of all existing or potential objectives. The research method used by the author was an analysis of existing and published literature within Web of Science and elsewhere like the UNO and her organisations (in total more than 15 references), mainly from the last decade. The approach of the topic is to define and evaluate the actual status quo of sustainability regarding economics from the US American and German point of view. Findings: Research findings are shown within a brief summary to offer an opportunity for further analysis, discussions, or results. The ecological footprint is an accepted possibility to measure effects of men on nature, based on numerical indicators and values. The incurrence of external diseconomies must be charged or taxed in full. Economy, Society and Environment have to go hand in hand and people have to be taught their current behavior cannot continue in the previous way anymore. Research/practical implications: Results and implications for practice, applications and consequences are identified as added value. Changes of sustainability and its effects can only be evaluated in the mid and long term run. Any real short term effects should not be expected. Avenues of future research should have always a focus on sustainability, if current behaviour of human mankind offers an acceptable opportunity of surviving for future generations. Originality/value: This paper sees sustainability from the economics point of view (a research gap so far) and is in contrast to most existing literature which has the approach from the environment (natural sciences/technique) or society/politics.

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