Like physical capital, which can be applied for particular intentions, social capital is suitable in the sense that an actor's system of, say, friendship ties can be applied for other aims, like information collection. Furthermore, social capital can be "converted" to other forms of capital: the benefits conferred through one's position in a social system can be changed into economic or other benefits. Among the particular types of capital recognised through Bourdieu, economic capital is most important; it is convertible into culture, human, and social capital. In contrast, the "convertibility rate" of social capital into economic capital is not high, since social capital is less liquid and further "sticky" (Anheier, Gerhards, & Romo, 1995; Smart,
The resource use either going to be beneficial for long or not, it can be shown in the country’s gross domestic product (GDP) pointers. The decline in assets are not reflected by the said measures of economic wellbeing. Which are regarded as suitable methods to measure future economic growth of a nation. The ecosystem services in most countries are offered free of charge; such as water. This makes their filth not to be included in standard economic measures.
On the other hand, the revisionist theory explanation is less ideal but more complicated compared to the neoclassical theory. It resembles the neoclassical theory with regards to changing the economic and structural questions to organizational ones (Brain Uzzi, 1997). However, the revisionist theory also attempts to explain interpersonal dyadic social ties (Williamson, 1994: 85). For instance, in terms of transaction cost economics, choices made by sellers and buyers may depend on their interests for small-scale transactions. Revisionist economic frameworks redefine embeddedness by considering transaction cost, agency and concepts of game theories to explicate complex situations.
CHAPTER # 1 1. INTRODUCTION The natural resources differ in types, deposits, features, and qualities from one country to the other as these resources have been geologically formed over decades in different conditions. Natural resource economics is very important in studying the scarcity and efficient allocation of natural resources. In addition, it develops the best methods and models for extracting, producing, and consuming the natural resources in ways that take into consideration the importance of sustainability of the natural resources for the future generations. Dealing with natural resources in economics is completely different than dealing with any kind of unnatural inputs.
According to Aras and Crowther (Claydon, 2011), sustainability aspect can not be consdered adequately when firms only concentrate on only environmental factors or financial performance. Instead, they offered a comprehensive model comprising four aspects of CSR, which are environment, society, financial performance, and organization structure. From that, sustainable problem is not only allocating interest between stakeholders and shareholders. Sustainable responsibility is to utilize current resource in the way not affect or even create a better future. Increasing financial performance must be accompanied by inventing renewable energy resources, eliminating poluted substances, or improving technology.
It works with three principal aspects, they are the social sustainability, the economic sustainability, and the ecologic or environmental sustainability. The first is the ability of a community to develop processes and structures that serve now and in the future. The second is the ability of an economy to support a defined level of economic production indefinitely and the third is the rat of renewable resource harvest, which has the purpose of not so much polluting our planet. Each one of the three-factor has a similarity between two or three factors. The number one is between the social and the environment and it is bearable, that is the ability to be endured.
the needs of the current generations without compromising the ability of future generations to meet their own needs’. It brought the environmental issue high on the political agenda by stressing the link between economic, social and environmental challenges. Then in 1992 at the UN Conference on Environment and Development was signed the Rio Declaration and Agenda 21. The Declaration postulated sustainable development principles, while the Agenda proposed specific measures for integrating and attaining economic, social and environmental objectives. In 2000, the UN adopted the Milenium Declaration according to which the countries undertake measures for eliminating poverty, lifting dignity and equality among people and achieving peace, democracy
1. Introduction Sustainable economic development requires consideration of economic, social and environmental factors. Since the last decade of the twentieth century, there has been a demand for statistical data reflecting the state of the natural environment and the impact on it of human society. At the same time, statistics are required that reflect the impact of ecosystems on the economy. Agenda 21 (1992), adopted by the United Nations Conference on Environment and Development in Rio de Janeiro, considers "Integrating Environment and Development in the Decision-Making Process" (Chapter 8) and "Conservation and rational use of resources for development "(section 2) as the main development priorities.
A number of empirical studies investigated the relationship between CO2 emissions and different economic variable both for developed and developing countries. In this paper we are mentioning some of those literatures which we believe relevant for this topic. Boqiang Lin and Kerui Du examined the effect of China 's market-oriented reform on China 's regional energy and carbon efficiency. They found that the provinces of west china have a lower carbon emission, promotion of factor market have a positive impact on energy uses and CO2 emission and the share of coal and the extension of the industrial sector were found to be negatively correlated with energy and CO2 emissions performance. The total factor CO2 emission performance of 32 industrial