Have you read this article?
Muñoz, Lucio, 2011. From Dying to Eternal Economies: When Should the Paradigm Shift from the Non-Renewable Resource Based to the Renewable Resource Based Economy Take Place?, En: Desastres Naturales, REDESMA, Vol.5(2), October, La Paz, Bolivia.
https://www.researchgate.net/publication/281276531_From_dying_to_eternal_economies_When_should_the_paradigm_shift_from_the_non-renewable_resources_based_economy_take_place
In 2011, economic discussions often centered on the challenges faced by economies heavily reliant on non-renewable resources, such as oil and minerals. These economies, sometimes referred to as "dying economies" due to their vulnerability to resource depletion and market volatility, were contrasted with more sustainable or "eternal" economies that diversified their economic activities.
Key Concepts:
Transition Strategies:
To move from a non-renewable resource-based economy to a more diversified and sustainable one, several approaches have been proposed:
- Investing in Human Capital: Enhancing education and skills to support the development of new industries.
- Developing Infrastructure: Building transportation, communication, and energy infrastructure to facilitate economic activities beyond resource extraction.
- Strengthening Institutions: Improving governance and regulatory frameworks to support business development and attract investment in diverse sectors.
- Promoting Innovation: Encouraging research and development to foster new industries and technologies.
Case Studies:
- Botswana: Successfully utilized diamond revenues to invest in education and infrastructure, leading to diversified economic growth.
- Chile: Managed copper wealth prudently and invested in other sectors, achieving a more balanced economy.
Ruquyah, thank you for sharing this.
You are missing two transition strategies:
a) the win-win development strategies advanced by the WCED 1987/Our Common Future and promoted by international institutions like the world bank, FAO, and non-profit organizations as win-win eco-economic or socio-economic or socio-eco-economic approaches;
b) the win-win economy-environment a la GREEN MARKETS advanced by UNCSD 2012/The Future We Want.
As since 2012 we have been living in a period of green market paradigm shift avoidance, making the environmental market failure the WCED and UNCSD were trying to solve PERMANENT as the transition way to the clean economy is then closed.
Thank you for writing
Lucio
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