GEF

Unit 7  |  The Economics of Sustainability 145 Understanding economics is integral to understanding sustainability . The prefix eco , derived from the ancient Greek word for “house,” is the base of the words “economics” and “ ecology .” Both disciplines study the behavior of systems and relationships between parts of systems. However, the current global economic system operates in ways that do not always support ecological relationships or health. Although economic growth provides benefits to society, that growth may be considered unsustainable when it is linked to inequality, natural resource depletion, and pollution. It will take progressive approaches, such as assigning an economic value to nature, to help make the global economic system more sustainable. Essential Concept Traditional economic systems are limited in encouraging sus- tainability on global, regional, and local scales. THE BIG IDEA ECONOMICS The discipline that studies the production, distribution, and consumption of goods and services. SUSTAINABILITY The long-termmaintenance of economic, environmental, and social health. ECOLOGY The study of the relationship between organisms and their environment. GROWYOUR KNOWLEDGE With your teacher’s permission, watch Hans Rosling’s 200 Countries, 200 Years, 4 Minutes—The Joy of Stats video (https://youtu.be/kTSxo3175ec ). Rosling is a Swedish academic. In the video he presents a global analysis of life expectancy and per capita income over time. After watching the video, discuss the questions below with a partner or as a class. 1. According to Rosling, what was the world like in 1810? In 1948? 2. What major trend happened between 1948 and 2009? 3. What is Rosling’s prediction for the future? 4. What are the limitations of Rosling’s analysis? Besides lifespan and income, what other factors might we consider when assessing the well-being of a country?