How do you evaluate the economics discourse of sustainability Essay

How do you evaluate the political economy discourse of sustainability - Essay ExampleUnfortunately many debates and studies about the measurement of sustainability do not define, or even derive a common understanding, about what is to be measured. Nonetheless, the context of sustainability cannot be separated from its measurement.In simple words, experts argue that there is need to consider economic, environmental and social indicators to measure sustainability. For example, economic indicators be income level in society, inflation, unemployment, exports / imports statistics, GDP, FDI, Public and Foreign Debt etc. Social indicators may include Suicide rates, large number living below poverty line, difference between rich & poor, rate of urbanization, spread of diseases, mortality rates, educational and health spending etc. Environmental factors include carbon emissions and pollution. Together, the evaluation of these aforementioned indicators helps determining the level of sustaina bility in a particular nation or society.It should be pinpointed that economists, statisticians and business professionals have developed non-homogeneous quantitative models and tools to estimate economic betterment and real growth rates. Nevertheless, the nominal growth is not considered as true representation of economic sustainability, growth and expansion. Some of the best examples of quantitative methods for measuring sustainability include Liverman and sustainable Seattle (that ranges from the simple to complex), Index of Sustainable Economic Welfare (ISEW), Genuine Progress Indicator (GPI), Moodys Credit Rating etc. Economists, indeed, claim that a countrys reliance and use of local anaesthetic resources for domestic production (without any violation of environment and business laws) and need fulfillment of local + outside(prenominal) consumers leads to accumulation of wealth and sustainability in that country. In addition, it reduces dependence on foreign countries, donor agencies and international community, which subsequently enhances its political and economic power, reputation and