CHAPTER 3
Developmental SustainabilityImplications of the EconomicReforms in the Energy Sector
THE USE OF NATURAL MATERIAL and energy resources in economic processes poses two kinds of challenges in the context of sustainability of the development process (Boulding 1966; Georgescu-Roegen 1971; Pezzey 1989; Daly 1991; Meadows et al. 1992;Toman et al. 1995; Sengupta 2001):
1. Overcoming the scarcity of resources resulting from limits in the regenerative ability of nature in the face of increasing growth process requirements for such resources.
2. Conserving the environmental quality of ecosystems by abating pollution in the face of a growing flow of wastes from commercial enterprises into the natural sink, ...
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