Is economic growth sustainable in the long run? The answer might not be obvious

George Economou and George Halkos

MPRA Paper from University Library of Munich, Germany

Abstract: Natural resources provide ecosystem services to humans and society. Economic sectors use natural resources for economic benefits. Intense and uncontrolled economic activities and human intervention create adverse effects on the balance between all pillars of sustainability, namely the economy, environment, and society. In this context, researchers investigate potential causalities to provide inputs and insights into relevant decision-making processes and structure effective, applicable, and long-lasting plans and policies. These policies highlight the role of energy efficiency by accelerating the replacement of fossil fuels with renewables and minimizing greenhouse and carbon dioxide emissions. The Environmental Kuznets Curve (EKC) hypothesis and the energy growth nexus discussion offer research fields to determine whether growth creates environmental degradation or whether energy drives economic growth. Both approaches can be used under different methodological approaches using various indicators, groups of countries, and thematic fields. Research findings should accompany relevant practical implications for the business world and everyday life. These implications are expected to advance responsible consumptive behavior, the use of technological advancement, and a sustainability culture concerning households, organizations, and consumers. The key target is to bring a better future closer to our reality.

Keywords: Environment; energy; economy; sustainability. (search for similar items in EconPapers)
JEL-codes: Q01 Q40 Q50 Q56 Q58 (search for similar items in EconPapers)
Date: 2024-01
New Economics Papers: this item is included in nep-ene and nep-env
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