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Selected Measures of Welfare in the Contemporary World Economy and the Implementation of the Sustainable Development Strategy in the European Union

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  • Czech Katarzyna

    (Department of International Economic Relations, University of Economics of Katowice)

  • Czech Mateusz

    (Department of Decision Analysis and Support, Warsaw School of Economics)

Abstract

The principle for an effective management of the national economy is to create long-term development strategy. Taking determined decisions increase the chance of future growth. A necessary condition for an effective change, however, is basing them on sound and well-chosen premises. It is also essential, to continuously monitor progress and adjust actions if necessary. For this purpose, appropriate measures are required. The progressive process of environmental degradation, marginalization of national and ethnic groups, as well as the prospect of running out of energy resources, attracted greater attention to sustainable development. Among the main objectives of the sustainable development strategy in the EU, beside economic welfare, isthe protection of the environment, as well as equity and social cohesion. These objectives are convergent with emerging measures of welfare, which in contrast to GDP also include other elements that determine the real welfare of people affected.

Suggested Citation

  • Czech Katarzyna & Czech Mateusz, 2011. "Selected Measures of Welfare in the Contemporary World Economy and the Implementation of the Sustainable Development Strategy in the European Union," Folia Oeconomica Stetinensia, Sciendo, vol. 10(1), pages 142-151, January.
    • Handle: RePEc:vrs:foeste:v:10:y:2011:i:1:p:142-151:n:7
    DOI: 10.2478/v10031-011-0007-0
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    References listed on IDEAS

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