External effects in the maritime sector leading to new economic perspectives.

Abstract

Our present economic system is facing some real challenges. It is a so-called linear system like “take-make-use-lose”. Sustainable economic development requires valuing (environmental) resources correctly and factoring them into production and consumption decisions. Having a focus on the economic production process, external effects do not seem to fit in the linear system. So-called external effects are not included in economic models, business decisions etc. External effects like the Sustainable Development goals and legal actions in court are of growing importance for economic developments ranging from port development to design of ships and logistics. The distinction Economic Capital, Social Capital and Natural Capital is helpful in creating consciousness about the concept of circular economy. Nature provides tools, systems and knowledge from 3.8 billion years of evolution that will enable us to enter and develop new circular economic developments, to develop real "green ports”; to combine divergent functions in a smart way.