THE ACTIVE INTEGRATED CIRCULAR PROCESS – EXPRESSION OF MAXIMUM SYNTHESIS OF SUSTAINABLE DEVELOPMENT

Done Ioan, Matei Vasile and Matei Dorina
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Done Ioan: University of Oiland Gas, Faculty of Economics, Ploiesti, Romania
Matei Vasile: University of Oiland Gas, Faculty of Petroleum Technology and Petrochemistry, Ploiesti, Romania
Matei Dorina: University of Oiland Gas, Faculty of Petroleum Technology and Petrochemistry, Ploiesti, Romania

Annals - Economy Series, 2015, vol. Special, 330-339

Abstract: "The accelerated pace of economic growth, prompted by the need to ensure reducing disparities between the various countries, has imposed in the last two decades the adoption of sustainable development principles, particularly as a result of the Rio Declaration on Environment and Development (1992) and the UNESCO Declaration in the fall of 1997. In specific literature, in essence, sustainable development is considered "an economic and social process that is characterized by a simultaneous and concerted action at global, regional and local level. Its objective is to provide living conditions both for the present and forth future. Sustainable development “encompasses the economic, ecological, social and political aspects, linked through cultural and spiritual relationships."(Coşea, 2007)In Romania, achieving sustainable development is a major, difficult objective, because it must be done in terms of convergence to the demands of the economic, social, cultural and political context of the EU, and in terms of the completion of the transition to a functioning and competitive market economy. In this context, it is imposed the economic competitiveness through reindustrialization and not least, by harnessing the active integrated circular process. Gross value added and profit chain in the structures of active integrated circular process must reflect the interests of the forces involved(employers, employees and the state)thereby forming the basis of respect for the correlation between sustainable development, economic growth and increasing national wealth. The elimination or marginalization of certain links in the value chain and profit causes major disruptions or bankruptcy, with direct implications for recognizing and rewarding performance. Essentially, the building of active integrated circular process will determine the maximization of the profit – the foundation of satisfying all economic interests.

Keywords: sustainable development; active integrated circular process; gross value added chain; degree of recovery; competitiveness. (search for similar items in EconPapers)
Date: 2015
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