ECONOMIC SCENARIO OF SUSTAINABILITY - ECONOMY - 2025

The economic scenario of sustainability is the process by which a balanced and harmonized economic development between man and the environment is achieved. It is based on the permanent search for human well-being, but taking into account the limitations established by the availability of natural resources.

There is a new economic, political and social scenario for life on the planet based on sustainability. In today's world, the need to harmonize the objectives of the economy with the preservation of nature is recognized, so that the interests of production are aligned with the environment.

Sustainability starts from two basic premises or ideas. The first is the need to conserve existing resources so that they serve present and future generations.

The second is the limitation imposed on the environment for the exploitation of its resources, considering the technology and social organization of each society.

The constant search for increased production and consumption is dangerously reducing the limited supply of natural resources. Ecosystems' capacity to absorb waste is also being depleted. So achieving another way of living on the planet is a must.

Fundamentals of sustainability

Sustainability is based on an ecological dimension that promotes the preservation of the natural resources necessary to guarantee energy and food security.

However, unlike the limits to growth school that emerged in the 1960s, sustainability takes production needs into account. That is, he agrees that economic production should increase as the population grows.

The concept of sustainability focuses on recognizing that there are certainly potentialities and limits in nature, in addition to the environmental complexity for the production of goods, which is inspired by a new way of understanding the challenges of humanity in the coming decades.

On the other hand, sustainability promotes a new way of approaching the economy, science and technology, supported by its values.

In this sense, it considers that a new alliance between nature and society must be established through a different political and economic culture based on the ethics of sustainability. It is, in a word, a new way of inhabiting and living with planet Earth.

Dimensions of sustainability

The concept of sustainability is very complex and presents various dimensions that can be classified into:

Environmental or ecological sustainability

The proposed development is required to complement and be compatible with the preservation of the environment. It must respect the ecological balance, biological diversity and the rational exploitation of natural resources.

Social sustainability

It requires that the development model promote the strengthening of the cultural identity of the communities. Its fundamental premises are the search for demographic balance and the eradication of poverty.

Economic sustainability

Economic development must be equitable, efficient and with a long-term vision, designed for present and future generations.

Geographic sustainability

It must assess the territorial dimension of the different areas or environments in the planning process for sustainable development.

Other dimensions

Other dimensions that development must take into account are cultural, political and educational sustainability, in order to ensure its maintenance over time.

Economic scenario

It is a referential model that serves to study the conditions in which the production of goods and services takes place. For its evaluation and study, the way in which economic factors (capital, land, work, technology) intervene and interact in the production process is taken into account.

Economic scenarios are proposed to analyze possible future situations regarding the progress of the economy of a country or the world. There are several types of economic scenarios:

- Reference scenario (based on premises from institutional sources).

- Optimistic scenario (considers beneficial premises for the company / country with high probability of occurrence).

- Pessimistic scenario (considers adverse premises for the company / country whose possibility of occurrence is low).

Economic scenarios are studied in the light of the rules of a certain production system: capitalist, socialist, collectivist, etc.

Sustainable economic scenario

When talking about the economic scenario of sustainable development, reference is made to an ideal situation in which the production process takes place. It is based on the sustainable dimension of economic growth and development in general.

The economic dimension or scenario of sustainable development seeks to achieve the maximum well-being of the population, taking into account the limits imposed by the ecological process, since that is where sustainability resides.

The economy is the way in which goods and services are produced, distributed and consumed in an economic system. Its purpose is the satisfaction of human needs.

In an economy based on sustainability, it is not only important how these human needs are met. The way in which economic factors interact with the environment also counts.

In other words, under what conditions does the production process take place, how a community obtains food, water and housing, among other aspects. It is important to know how it is produced and for what purpose it is made, and whether or not it is capable of self-sustaining.

Economic sustainability is only possible when a community or country can meet its needs without destroying its natural resources. It requires that the production process be balanced and harmonized with the preservation of the environment.

Role of the administration in the new economic, political and social scenario

The administration plays a fundamental role in society. Through the administrative processes, the tools for the control and management of available resources are provided. It allows planning the use of human, financial, technological resources, etc., in an economic or social organization.

In a society where resources (water, land, food, capital, among others) are unevenly distributed, administration is vital. Sustainability cannot be conceived without a new management approach to scarce resources.

The unequal distribution of resources is among the most urgent problems to solve in order to achieve sustainable development. Mineral resources - for example, water, oil, coal - are not equitably distributed on the planet, as are fertile lands or seas and rivers, nor are scientific and technological development.

Thus, for some societies it is much more difficult to achieve that point of balance between achieving social welfare and exploiting their resources. Thus, the role of the administration is fundamental in the new proposed social, political and economic model.

Equality must be promoted within a deeply unequal society. The new economic, political and social scenario must be inclusive and transparent, with administrative structures, both public and private, less permeable to corruption.

Institutions must be more flexible and efficient to improve the provision of services and the distribution of goods produced.

References

1. Economic growth and sustainability - are they mutually exclusive? Consulted from elsevier.com
2. Sustainable development tec. Consulted of developments sustainabletec9.webnode.es
3. The Sustainable Economy. Consulted from hbr.org
4. Building a sustainable economy: the three critical steps. Consulted of theguardian.com
5. Economic Development and Sustainability. Consulted from futureofwork.nz
6. Sustainability, well-being, and economic growth. Consulted of humansandnature.org