DECOUPLING OF NATURAL CAPITAL USAGE FROM PRODUCTION GROWTH IN THE MANAGEMENT OF MODERN DEVELOPMENT
DECOUPLING OF NATURAL CAPITAL USAGE FROM PRODUCTION GROWTH IN THE MANAGEMENT OF MODERN DEVELOPMENT

Summary/Abstract: The rise of ecological economics and the verification of the sustainable development concept in the last decade of the previous century led to the recognition of the important role of natural capital in economic growth. With the ever-growing depletion of natural resources and increasing environmental expenditures caused mostly by human activities, it is necessary to disconnect natural capital usage from economic growth, especially bearing in mind current and future economic and societal development. The paper first presents an overview of natural capital as a driver of production growth in economic theory. Then, the phenomenon of decoupling is explained, with particular emphasis on resource decoupling and impact decoupling. In light of the imperative to decouple production growth from the consumption of natural capital, the importance of the circular economy model as a tool through which the goals of decoupling can be achieved to a significant degree is discussed. Due to the possibility of multiple resource use in the production process and the reduction of environmental pollution, the circular production model is particularly applicable in the fields of agriculture and the food industry

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