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THE “STOCK AND FLOW” APPROACH TO THE GOVERNANCE OF SELF-SUSTAINABLE RURAL SYSTEMS

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Abstract

The aim of this study is to present the “stock and flow” model - based on the Georgescu-Roegen bio economic paradigm and on the ecological economics principles - in a regional key and to discuss the implications of such an approach on the local system governance in order to guarantee a long term economic, social and environmental self-sustainability. These theories give a dynamic characteristic to this approach, by interconnecting the production process (supply) with the responsibilities of the welfare generation (demand). Starting from this theoretical model, it is possible to look at the integrating modes of production and consumption processes at a local scale that consent to guide a rural system towards conditions of sustainability. This perspective of rural system governance imposes the relocation of the control of resources (stock) to a local level and, therefore, a deep change in the idea of the politic procedures.

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