Global Sustainability

The need to reconcile the major issues behind sustainable development has led to several approaches such as socialism (reconciling economic and social development), conservationalism (economic and ecological development) and ecologism (social and ecological development). Sustainable development expands further the issue through a comprehensive approach that can be somewhat paradoxical. This leads to different paths in terms of if sustainable practices must be the outcome of state coercion (laws, rules and regulations) or let to market forces where entrepreneurs (from individuals to multinational corporations) pursue sustainable strategies as a rationale to increase efficiency and profits. While the regulatory approach appears attractive, government intervention commonly lead to the misallocation of resources, corruption, and inequity.

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