Sustainability and economic theory: an organism in premise

Article


Hasna, Abdallah M.. 2009. "Sustainability and economic theory: an organism in premise." International Journal of Knowledge, Culture and Change Management. 9 (11), pp. 1-13.
Article Title

Sustainability and economic theory: an organism in premise

ERA Journal ID11458
Article CategoryArticle
Authors
AuthorHasna, Abdallah M.
Journal TitleInternational Journal of Knowledge, Culture and Change Management
Journal Citation9 (11), pp. 1-13
Number of Pages13
Year2009
Place of PublicationChampaign, Illinois, USA
ISSN1447-9524
1447-9575
Web Address (URL)http://www.Management-Journal.com
Abstract

[Abstract]: So what is the link if any between economic management theory and sustainability? Is it the interrelatedness of the world international economies; but alongside connectedness comes vulnerabilities? as I reflect on the impact of the economic turmoil and the deepening economic contractions of late 2008.Since economic traditions are migrating towards sustainable development raising the need for an understanding of operational principles of Sustainability. what are its implications for the engineering industry in particular commodities sector, with this in consideration I would like to call on Gaia hypothesis Lovelock (1972) that proposed living and non-living parts of the earth form a complex interacting system that can be thought of as a single organism, similarly another interesting and relative
theory is that of Meadows in his book “Limits to Growth” (1972) modeling the consequences of a rapidly growing world population and finite resource supplies, commissioned by the Club of Rome. This paper examines juxtaposition of sustainability in economic management theory using the laws of thermodynamics. The objective of this review paper is to collaborate on the economic dimensions of sustainability. We posit that cohesiveness between economic theory and sustainability are necessary to alleviate the current credit crunch. We argue that a sustainable management theory as an organism is a key determinant of economic relationships; it thus highlights the relationship between industry sectors diversification and economic sustainability.

Keywordscommodities, sustainability, organism, management theory, economy
ANZSRC Field of Research 2020400403. Chemical engineering design
370104. Atmospheric composition, chemistry and processes
Public Notes

© 2009 (individual papers), the author(s).

Byline AffiliationsDepartment of Agricultural, Civil and Environmental Engineering
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