Economics 2150A/B Study Guide - Quiz Guide: Circular Economy, Planetary Boundaries, Consumerism

• School: Western University
• Department: Economics
• Course: Economics 2150A/B
• Professor: Colin Denniston

Document Summary

An analysis of service solution business models for a steady state economy. A steady state economy (sse) is defined as an economy with stable or mildly fluctuating size" (casse, 2012, pp. The theory was developed by h. e. daly (2008) following two fundamental sustainability issues. Firstly, growth is no longer sustainable, and the earth is reaching the planetary boundaries (rowarth, 2018). Secondly, continued growth, measured by gdp, is no longer desirable for economically developed countries (dietz and o"neill, 2013). This is because growth is no longer improving levels of happiness and well-being within society. Thus, a sse provides a solution via continued qualitative development rather than aggregate quantitative growth (daly and farley, Often businesses are scrutinised for overlooking the environmental and social impacts of their practices due to the risk of losing profit (rowarth, 2018). Ideas around how to achieve a sse through businesses models while generating profit are at the subject of debate in the literature.