Sustainable Economic System, Summaries of Contemporary Literature

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SUSTAINABLE

ECONOMIC SYSTEM

Sebastian Plóciennik

INTRODUCTION

The Sustainable Economic Systems is an economic framework and practices that support long-term economic growth without negatively impacting social, environmental, and cultural aspects of the society.

In this scenario the economic stability and sustainability is in doubt because the government has prioritized economic development over environmental conservation. The environmental impacts of these activities will become more apparent, concerns about the long term sustainability of the economy.

DEFORESTATION may leads to loss of biodiversity and ecosystem services, impacting agriculture, tourism, and local communities dependent on forests for livelihood. WATER POLLUTION affects fisheries and human health, leading to increase health care costs and reduce productivity.

What is a Sustainable Development? It is an approach that seeks to achieve economic growth, social equity, and environmental protection in a balanced and integrated manner. This typically involves a combination of economic, social, and environmental policies and practices that promote a long-term

STABILITY

Firmness in position, permanence, and resistance to change, especially in a disruptive way. In an economic sense, the International Monetary Fund describes it as “avoiding large swings in economic activity, high inflation, and excessive volatility in exchange rates and financial markets. (IMF

IMF is an international organization aims global economic growth and financial stability, encourage international trade, and reduce poverty around the world by supporting economic policies that promote financial stability and monetary cooperation, which are essential to increase productivity, job creation, and economic well-being. The IMF operates as a specialized agency of the United Nations

What does the IMF do?

Another good point of having a global interstate system is that when a country is engaging in inhumane or wrong doings, countries who are in agreement with the said country can lay down sanctions on the country which although is going to hurt the economy of the other countries as well but it could help stopping the country from continuing their wrong

MARKET INTEGRATION

INTERNATIONAL FINANCIAL

INSTITUTIONS

• International non-profit one of

the major financing like regional

or banks globally agencies are

sources of development banks

• To finance projects or

development productive to

promote development economic

The World Bank and the International Monetary Fund (IMF) are both global financial institutions, but they have distinct roles and functions: 1.Purpose and Focus 2.Membership and Governance: 3.Financial Tools 4.Conditionality

1.Purpose and Focus: The IMF's main purpose is to ensure the stability of the international monetary system. It provides financial assistance to countries facing balance of payments problems, helps countries implement economic policies to stabilize their economies, and offers policy advice and technical

2.Membership and Governance: The World Bank has 189 member countries, with a Board of Governors representing each member country. It consists of two main institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA).