chapter  5
6 Pages

Economic Globalization and Sustainability

This chapter discusses a more general and overarching politico-legal environment necessary for lasting and amicable collaborations in one's complex world. It explains the authors' major value premises for the present theoretical framework focusing generally on Sustainable Development that includes local, national, regional and global levels. The chapter introduces the normative and analogical development path, Optimal Development Path (ODP), which emphasizes the importance of societal Value Aspect in the balanced socioeconomic development. It clarifies the characteristic process of balanced socioeconomic development on the basis of perpetual interactions between the society's Value Aspect and Real Aspect for a virtuous circle, reflecting the Cultural enrichment that improves the social value system and socioeconomic activities. The modern liberal democracy and laissez-faire economics might have assumed, to begin with, too much idealized and/or fictitious social constituents, namely, autonomous and self-sufficient individuals. Holistic Culture Enrichment may trigger a perpetual trilateral virtuous circle of human development, socioeconomic development and Cultural enrichment.