Hermann Witte

Sustainable Market Economy, 3 Hermann Witte

The sustainable market economy is based on the United Nations' idea of installing a worldwide sustainable development process. The objective of this process is to reduce the difference between 'poor' and 'rich' countries. The concept of the sustainable market economy is founded on the basic idea of economics to realize market equilibria (Adam Smith). It is shown that economic equilibria also ensure economic sustainability. Because economic crises are present in economic disequilibria, the realization of the economic sustainability prevents systemic (self-made) economic crises and also ensures welfare. So it is logical - as discussed in this book - to realize economic sustainability consequently, in spite of the dominance of political compromises in democratic societies. (Series: Lingen Studies on Management and Technology - Vol. 3 / Lingener Studien zu Management und Technik - Vol. 3) [Subject: Economics, Sustainable Development]