Economic Sustainability and the Circular Economy: Pillars for Sustainable Economic Development

ASM.MS.ID.555816

Abstract

Power logics are those principles underlying the pursuit of political and social influence. Many youth are politically purposeful and driven by the search for empowerment, and the desire to create impact and advance political and social gains through their activism. Since youth represent the new generation building movements, it is very important that social science research investigate the principles spurring their action. In this paper, we examine a specific youth demographic, Canadian Arab youth, and investigate the reasons, conditions, and principles of their involvement, and how big the gap is in better understanding them.

Keywords:Agency; Youth Studies; Civic Engagement; Political Participation; Citizenship; Arab Youth

Introduction

In recent years, economic sustainability and the circular economy have emerged as central themes in the debate on the future of global economic development. The planet is currently facing a scenario of increasingly scarce natural resources and growing environmental pressures, and it is essential to adopt models that reconcile economic growth with environmental responsibility not just as a choice, but as an imperative necessity.

Economic Sustainability: The Basis for Resilience

Economic sustainability goes beyond maximizing profits in the short term. It is about creating conditions that guarantee long-term economic viability, promoting a balance between the use of available resources and the needs of future generations [1,2]. Countries that invest in economic sustainability policies are better able to withstand external shocks, such as financial crises or fluctuations in the price of raw materials, ensuring stability and prosperity for their populations [3].

In addition, integrating sustainable practices into productive sectors not only increases competitiveness, but also attracts foreign investment. Studies show that economic sustainability practices contribute to financial stability and encourage the technological innovation needed to compete globally [4,5].

Circular Economy: A Model for Efficiency and Innovation

The circular economy complements economic sustainability by proposing a model that eliminates waste and keeps resources in use for as long as possible. This system contrasts with the linear model of ‘extract, produce and discard’, encouraging practices such as recycling, reuse and intelligent product design [6,7]. Various innovative solutions have been developed and are becoming viable and demonstrating positive impacts on both waste reduction and production costs [8,9].

In different sectors of activity, from agriculture to industry, the circular economy has helped to manage waste efficiently, reducing pollution and creating innovative resource utilisation cycles [10,11]. These practices represent a unique opportunity for countries to reduce external dependencies, generate innovation and increase resource efficiency.

Impacts on Economic Development

By aligning economic sustainability and the circular economy, countries can achieve more robust, equitable and sustainable economic development. Policies that promote a green and circular economy have shown positive results, such as increased productivity, economic diversification and a higher quality of life for populations [12,13].

Recent studies show that circular economy practices not only help to achieve climate goals, but also promote new jobs, with the development of new sectors of activity [14-17].

Challenges and Opportunities

However, implementing these models requires coordinated efforts. Governments, companies and civil society need to work together to overcome cultural, financial and technological barriers. Educating consumers, investors and the general population poses challenges and opportunities with the demand for new business practices [6,18].

Investing in education, promoting scientific research and creating tax incentives are key steps for economies to adopt a more sustainable approach. In addition, financial instruments such as green bonds and targeted financing for green initiatives have been identified as important facilitators in this transition [19-21].

Conclusion

Economic sustainability and the circular economy are more than modern concepts; they are indispensable strategies for ensuring sustainable economic development. As we face global challenges such as climate change, social inequalities and resource crises, adopting these models becomes a strategic imperative for countries wishing to lead the future. After all, economic growth will only be truly significant if it can be sustained over time, respecting the limits of the planet and promoting prosperity for all.

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