July 2017
Beginner to intermediate
912 pages
28h 8m
English
Content preview from Smart Cities
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Chapter 13Smart Economic Development
Madhavi Venkatesan
Department of Economics, Bridgewater State University, Bridgewater, MA, USA
Chapter Menu
Introduction
Perception of Resource Value, Market Outcomes, and Price
Conscious Consumption and the Sustainability Foundation of Smart Cities
Objectives
- • To understand the relationship between smart economic development and sustainability.
- • To understand the role of economic and social frameworks in determining economic outcomes.
- • To understand the significance of culture, specifically conscious consumption in enabling sustainable outcomes.
- • To understand and appreciate the importance of economic education and continuous improvement in fostering long-term smart economic development.
13.1 Introduction
Smart cities are fundamentally sustainable. How sustainability is reached in a city requires holistic assessment and is enabled through technology, specifically with respect to operationalizing efficiency. However, given the present consumerism, fostered economy, perhaps the most significant, powerful, and traction-inducing vehicle for instituting sustainability, is found in enabling conscious consumption. O'Connell [1] views the education of the inhabitant as being the catalyst for smart city implementation and finds that education is correlated with government participation. Government participation rates promote establishment of public goods and also ensure that social values promote self-policing of the same. Consistent with ...
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