• But we are now painfully learning that environmental sources and sinks are finite. Originally, these capacities were very large, but the scale of the human economy has exceeded them. Since 1950, real gross world product has multiplied almost sevenfold, growing from $6.6 trillion to $45.9 trillion [2]. From 1850 to 1987 the population multiplied fivefold to 5 billion, and between 1987 and 1999 another 1 billion souls were added. The planet now houses 6.2 billion people and is currently growing at an annual rate of 1.1 percent. Source and sink capacities have now become limited. As economics deals only with scarcities, in the past source and sink capacities of the environment did not have to be taken into account. Now the consequences of unsustainable economic development are starting to unfold. Global warming, air and water pollution, rapid extinction of species and depletion of oil have serious impacts on economic development. Although conventional economists still hope or claim that economic growth can be infinite or at least that we are not yet reaching limits to growth, theoretical calculation and practical evidences do not support the claim.

• [1] Goodland, R., 2002, Encyclopedia of Global Environmental Change. Copyright  2002 John Wiley & Sons, Ltd
• [2] Stead, W.E., Stead, J., G., and Starik, M., 2004, Sustainable Strategic Management, M. E. Sharpe, Inc. © 2004
•  

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