Sustainability the New Paradigm in Essay

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Edwards (2005) writes, "This principle asks businesses to use foresight in the development of new products and processes and, if these are deemed potentially dangerous to society, to refrain from further action" (p. 55). This ethical concept shifts responsibility from the consumer and regulators to the business itself. The burden lies with the company to prove that technologies, chemicals, or practices are sustainable and safe. This is important because many companies view the requirement of proving non-hazards as an obstacle to technological advancement.

Maybe the most important concept in sustainability is that economic development is human development. This view integrates culture and economy. "The economy represents our societal metabolism; it processes resources and information and circulates the resulting products throughout" (Goerner et. al., 2008, p. 157). Prosperity is a function of human capital and local networks of collaboration. This is important since it reverses top-down notions which promote material means (factories, money, convention centers) and the interests at the top by ignoring the health of those at the bottom. It refuses to prioritize rugged individuals, capitalists, and managers over those upon whose work their success is built. It calls on businesses to empower individuals, families, and community groups to organize, educate, and innovate in sustainable ways. At the heart of this is the notion of local networks.

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Energy and intelligence should come from the local community for a business to be considered sustainable. Wealth should not be siphoned off to absentee owners, but kept local and distributed fairly.

In applying principle of "willingness to pay," a good guideline for sustainable initiatives is that given in the Ontario Round Table on Environment and Economy (see Edwards, 2005, 32). Its principles for sustainable development are: (1) recognizes that growth occurs within some limits and is ultimately limited by the carrying capacity of the environment; (2) values cultural diversity; (3) has respect for other life forms and supports biodiversity; (4) has shared values amongst the members of the community; (5) employs ecological decision-making (e.g., integration of environmental criteria into all municipal/government, business and personal decision-making processes); (6) makes decisions and plans in a balanced, open and flexible manner that includes the perspectives from the social, health, economic and environmental sectors of the community; (7) makes best use of local efforts and resources; (8) uses renewable and reliable sources of energy; (9) minimizes harm to the natural environment; and (10) fosters activities which use materials in continuous cycles. Sustainable economic development that organizes systems able to maintain their own health and vitality can be based on.....

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