sustainablility

The International Economy, the Environment, and Development

The two conditions to consider are the global economy and sustainability of the environment, balance must be maintained between the two to avoid dominance of any of the two.

Concentrating too much on the economy and overlooking the environment will cause irreversible destruction, whereas focusing on the environment and overlooking the economy will create losses for companies.

Nations all over the world are merging and forming links between the environment and economy; each country creates policies to create balance, and these policies affect other nations as well, therefore international organizations directly affect each other. Sustainability helps achieve economic goals while preserving resources for future generations. The picture above shows that (2) the economy is a small fraction of human society; our way of creating and exchanging goods and services to aid people meet their needs. Human society is therefore, a fraction of the environment, and we rely on that environment for some of the most basic needs of our lives

However, this is a problem for developing countries as it is not affordable and they need to focus more on increasing their income rather than utilizing their budget on schemes like these. (1)Growth in developing countries means external capital inflows. If there is no flow,  there will be no progress in living standards. Hence, the poor will have no option left but to exploit the environment for their own well-being. Long-term development is difficult. Net resource flows to developing countries have fallen in real terms; in aggregate, there is now actually an outflow. 

The Kyoto protocol was an attempt to bring about a change by reducing the percentage of greenhouse gases in the atmosphere to stop depletion of the ozone layer, and many countries signed up which helped, but not in the long run.

This video shows the relation between the economy and the environment- https://www.youtube.com/watch?v=O5lBwrJcUOk

citations 

(1)"Our Common Future, Chapter 3: The Role of the International Economy - A/42/427 Annex, Chapter 3 - UN Documents: Gathering a Body of Global Agreements." Our Common Future, Chapter 3: The Role of the International Economy - A/42/427 Annex, Chapter 3 - UN Documents: Gathering a Body of Global Agreements. N.p., n.d. Web. 10 Jan. 2016.

(2)"Economics as an Enabler of Sustainability." Economics as an Enabler of Sustainability. N.p., n.d. Web. 10 Jan. 2016.