TITLE:
The Sustainability in Economics as a Key for Future Prospects
AUTHORS:
Giovanni Antonio Cossiga
KEYWORDS:
Economic Sustainability, Inflation and Speculation
JOURNAL NAME:
Theoretical Economics Letters,
Vol.12 No.6,
December
16,
2022
ABSTRACT: There must be a balance position, a point where the potential
and possible harmony can be established between humankind and Nature in terms
of development. It should be considered that the human development along the
economic path is an absolute and primary need, and this because growth also
means well-being and solidarity, but above all, a good growth gives a boost to
the progress of science and research. Over time, science will lead us to an
absolute compatibility with the environment and in the meantime, we are offered
the possibility of minimizing the damage inflicted on Mother Nature. To correct
those damages, the conjuncture cycle inserts the recession into the phases of
development. The recession i.e., essentially a periodic pause, is necessary to
allow nature to digest the excess waste produced by human activities. Moreover,
there is the possibility of a serious alteration in the development process
during which we can witness the occurrence of monetary alterations (inflation
and deflation), which are anyway nothing more than messages sent by nature to
the community. The collectivity must in fact realize that the economic train
has derailed from the right and linear path. With these premises, we can
sustain that the magical balance that brings the values of optimal development
and those of the cost of living closer to 2% is a weak approximation of the
lasting and constant balance that the economy would achieve in the event, now still
away, of a realized neutrality of our presence on the planet. Even while
waiting to achieve the stability of our relationship with nature, we can
therefore maintain a condition of relative stability, which consists of a
linear growth limited to 2% - 2.50% on annual basis, with a long- lasting
feature if at the same time the principle of the least possible damage to the
environment is respected. A magic combination therefore that contextually may
see the convergence of development of economy with the constant value close to
2%, which ensures the potential stability of the relationship with the natural
world. This constant value is close to 2%, that is
indicated by the Central Banks as equilibrium of economy condition, be
considered a constant universal as the great universal constants of physics and
matter. At last, how to explain the accelerated pace that some territories have
shown over the centuries like, last China. Some indication tells us that the
accelerated pace in development may not be a symptom of a good government and
good relationship with Nature.