Economics of moderation. Towards sustainable development

Abstract

The article describes attempts at implementation of the idea of sustainable development in the world economy of the 21st century. The presented research is theoretical. The aim of the study is to set economics of moderation as a theory in the evolution of economic thought. The problem of sustainable development in the world economy has been depicted in relation to ongoing environmental, social and economic changes, pointing to the negative effects of the implementation of the current consumption model of contemporary economies. “Economics of moderation” is a new, unique approach to the theory of economics forming some kind of theoretical basis to the practical implementation of a real development restoring the right understanding of intergenerational harmony and justice. In the research work, an analysis of the literature on the subject, both domestic and foreign, was used within the scope of research methods of social sciences in the field of analysis and criticism of literature, as well as analysis and logical construction.