Concerning Sustainable Development of Economic Systems

Abstract

The current technological development provides a foundation for fast growth of well-being in industrialized countries and at the same time causes global economic misbalance. Growing production and consumption lead to wasteful use of resources and increasing contamination of air, water and soil. In order to meet basic needs we cause damage to the environment. The article investigates the issues of strategic survival of society in conditions of natural resources deficit. The concept of sustainable development adopted and accepted in the whole world is, unfortunately just a concept in many spheres and it requires development and introduction of economic mechanisms of rational use of resources of all types. The continuously increasing speed of changes has become a principle factor of economic growth. But the economic approach is a pivot of the concept of sustainable development. The authors proved that only observance of balance between economic, social and ecological interests of business entities and their harmonization at the expense of innovation, which were used in economic, social and ecological life of society, could result in sustainable development of economic systems.

Keywords

• sustainable development
• green economics
• decoupling effect
• efficiency of economic activity