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The Management of the Socio-Economic System: The Natural Capital Relation as a Foundation of Sustainable Development

The Management of the Socio-Economic System: The Natural Capital Relation as a Foundation of Sustainable Development
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Author(s): Constanta Popescu (Valahia University of Targoviste, Romania), Constantin Popescu (Valahia University of Targoviste, Romania)and Ana Lucia Ristea (Valahia University of Targoviste, Romania)
Copyright: 2017
Pages: 28
Source title: Measuring Sustainable Development and Green Investments in Contemporary Economies
Source Author(s)/Editor(s): Mihai Mieila (Valahia University of Târgoviște, Romania)
DOI: 10.4018/978-1-5225-2081-8.ch002

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Abstract

The appearance of the concept of sustainable development, although a sort of universal remedy at its beginnings, is becoming increasingly frequently the object of tensions both as objectives but especially as content. Regarding its objectives, the debate is organized around a logic based on the theory of the stakeholders but also on the competing logic that mobilizes an ethics of responsibility as teleological principle. Consequently, the meanings and implicitly the programmes of sustainable development are also the object of certain controversies and remain susceptible of being solved by a process of normalization of their contents. However, this dynamics of normalization itself is the bearer of certain “perverse effects”, already noticed in the accountancy standards domain and, under these circumstances, this dynamics of normalization cannot pretend to be the solution for regulating these controversies. The problem are mainly the weak doctrinal points characterizing Sustainable Development today, obviously, by comparison to what it wanted to be.

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