NEW ECONOMIC RETHINKING RELATED WITH SUSTAINABILITY TRANSFORMATIONS NOWADAYS

Gheorghe-Cosmin Manea ()
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Gheorghe-Cosmin Manea: Academy of Economic Studies, Bucharest

Romanian Economic Business Review, 2021, vol. 16, issue 1, 47-58

Abstract: Nowadays the supposed world transformations also include economical paradigms in our Sustainable Development Agenda. In the context of periods of economic collapse within the society due to various factors, this phenomenon has been exacerbated by problems arising due to climate change, leading to a difficult situation regarding both economic development and the application of good sustainable development practices. An opportunity for economic unlocking and, at the same time, for maintaining the imposed environmental regulations was identified in the development of a paradigm regarding the "creative economy", considering that it can play a key role in decongesting the problems that have appeared in both interdependent areas. During the development of this study, we considered the suggestion of some facilities to encourage the research-development-innovation activity within the Government Institutes, universities and profile big companies, as they also benefit from the advantage of being able to self-finance their activity and, therefore, they need an assurance and an incentive, so that the efforts are justified and the investments made produce income in the future, resulting in valuable concepts that can be applied. As a facilitator of the development of this paradigm that can go from the conceptual to the practical one with measures that can be taken at the level of the governmental policies, by thinking of fiscal facilities for investments in the creative fields, such as: the exemption from the payment of the tax on the profit (re) invested in creative activities for any type of public or private institution; exemption from paying corporate income tax for creative and/or newly established businesses for a certain period of time. Thus, the role of research in the economic field could be reoriented creating a link between the basic principles and rethought in order to get reconciliation between economy and environment. During the study, a report with case studies is presented aiming to find another approach that will support economic progress not in the detriment but in favor of the environment.

Keywords: sustainability; economy; development; research; environment; innovation; investment (search for similar items in EconPapers)
Date: 2021
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