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Surviving Socioeconomic Systems? Some Concepts Andan Example

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  • IORGULESCU RALUCA

    (INSTITUTE FOR ECONOMIC FORECASTING−NIER, ROMANIAN ACADEMY, ROMANIA)

  • JOHN M. POLIMENI

    (ALBANY COLLEGE OF PHARMACY AND HEALTH SCIENCES, USA)

Abstract

Similar to ecosystems, socioeconomic systems, economies embedded in the environment, are characterized by their own metabolism which uses energy and material flows to maintain and reproduce itself. Sustainable socioeconomic systems require eco-efficiency. The European Commission’s ‘green’ approach to corporate social responsibility is that companies are responsible for their impact on society and the natural environment and also for the behavior of their business partners. For socioeconomic survival analysis it is imperative to mention that together with the beneficial aspects of ‘greening’ industrial activity (supporting increasing levels of global consumption under the ‘economic growth’ development paradigm) are packaged great risks. This paper discusses the need for eco-efficiency, corporate social responsibility (CSR) and eco-innovation, bearing in mind the risks that transnational value chains could bring for the less developed countries. The case of Romania’s eco-innovation performance over the years is discussed.

Suggested Citation

  • Iorgulescu Raluca & John M. Polimeni, 2018. "Surviving Socioeconomic Systems? Some Concepts Andan Example," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 0, pages 5-13, December.
    • Handle: RePEc:cbu:jrnlec:y:2018:v:special:p:5-13
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    References listed on IDEAS

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