So, What is it?
An economy (or the economy) is the realised economic system of a country or other area.
It includes the production, exchange, distribution, and consumption of goods and services of that area.
A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography,natural resource endowment, and ecology, among other factors. These factors give context, content, and set the conditions and parameters in which an economy functions.
Sustainable Economics
Sustainability
economics represents: "... a broad interpretation of ecological
economics where environmental and ecological variables and issues are
basic but part of a multidimensional perspective. Social, cultural,
health-related and monetary/financial aspects have to be integrated
into the analysis."
Soederbaum, P. (2008). Understanding Sustainability Economics. London: Earthscan. ISBN 9781844076277.
Sustainable Economics relates to the social and ecological consequences of economic activity. At
present the average per capita consumption of people in the developing
world is sustainable but population numbers are increasing and
individuals are aspiring to high consumption Western lifestyles.
The
developed world population is only increasing slightly but consumption
levels are unsustainable. The challenge for sustainability is to curb
and manage Western consumption while raising the standard of living of
the developing world without increasing its resource use and
environmental impact. This must be done by using strategies and
technology that break the link between, on the one hand, economic
growth and on the other, environmental damage and resource depletion.
(Extracted from: Wikipedia)
Sustainable Business