Since the disbandment of the Soviet Union the dominant economic system globally has been capitalism. Private ownership of the means of production, creation of goods or services for profit in a market, and prices and wages are elements of capitalism (Tormey, 2004). This promotes a society in which the main objective is individual economic gain, where the levels of supply and demand determine the price of goods and services.
Although capitalism has undoubtedly brought with it huge economic benefits, they have come at a price and it has become evident that the planet can not sustain the current methods of pursuing economic growth. With the onset of climate change, swelling population rates and our non-renewable resources running out the only solution is for us to look for ways to develop in a sustainable way. As we can see from this graph there is a direct correlation between economic prosperity and CO2 emissions. Seeing as the the most economically prosperous nations are the main culprits behind the destruction of the environment, it is my opinion that the onus now rests with them to lead the way toward a sustainable future.
Sustainable development as a theory was first defined in the Brundtland report (also known as Our Common Future) in 1987. The report was the work of the United Nations...
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Chavis, Jason (2011) “What is Environmental Risk Management?” http://www.wisegeek.com/what- is-environmental-risk-management.html. Visited: 10/04/2011
Working Party of the RSC Environment Health and Safety Committee (2008). “Environmental Risk Assessment” http://www.rsc.org/images/Environmental_Risk_Assessment_tcm18-122341.pdf. Visited: 10/04/2011
Shell Oil Company (2011) “Environment & Society” http://www.shell.com/home/content/environment_society/. Visited: 10/04/2011
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