review · World Journal of Advanced Research and Reviews
Traditional agricultural practices have contributed to environmental damage, resource depletion, and social inequities, prompting a re-evaluation of agricultural economics to support sustainable development. By reviewing existing literature and regional case studies, an updated framework aligns the discipline with sustainability principles. Core findings emphasise the integration of agroecology, market mechanisms, and targeted economic incentives to drive sustainable farming methods. Emerging technologies such as precision agriculture and biotechnology offer vital operational solutions, although they require careful navigation of ethical concerns. In addition, addressing broader social dimensions, notably rural community development and gender equity, proves essential for long-term sustainability. Overcoming existing adoption barriers requires an interdisciplinary approach that bridges economic policy, technological advancement, and community needs to secure balanced agricultural outcomes.
Global food production faces pressing challenges from environmental degradation and social inequality. Redefining agricultural economics offers decision-makers, development agencies, and communities a balanced roadmap. By combining technological tools like precision agriculture with economic incentives and social equity measures, agricultural systems can protect ecosystems while maintaining economic viability and supporting rural livelihoods.
The review highlights precision agriculture, biotechnology, and market-based economic mechanisms as core practical tools. These technologies are relevant to agritech developers, agricultural enterprises, and policymakers seeking to deploy data-driven and biological farming solutions. Because the work is a conceptual review and framework synthesising existing case studies and literature, direct commercial applications remain at an early, policy- and strategy-formulation stage rather than representing an immediately deployable product.
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This paper critically examines the evolving field of agricultural economics and its imperative to transition towards sustainable development. Traditional agricultural practices have often been associated with environmental degradation, resource depletion, and social inequities. This paper reviews the current state of agricultural economics, identifies key challenges, and proposes a framework for redefining the discipline to align with the principles of sustainable development. It provides a comprehensive overview of the topic, demonstrating a clear understanding of the issues and challenges in agricultural economics. It offers valuable insights into the role of agricultural economics in promoting sustainable development and provides a well-structured framework for redefining the discipline to meet the needs of the future. The study highlights the evolving role of agricultural economics in achieving sustainable development, with a focus on both challenges and opportunities. The methods involve a thorough literature review, analyzing principles of sustainable agriculture, economic instruments, technological innovations, and social dimensions. Case studies from diverse regions illustrate successful implementations of sustainable practices. The findings underscore the significance of agroecology, economic incentives, and market mechanisms in promoting sustainable agriculture. Precision agriculture and biotechnology emerge as pivotal technologies, but ethical considerations are paramount. Social dimensions, including rural development and gender equity, play crucial roles in achieving sustainability. The review identifies barriers to adoption and proposes future research directions to advance the field. Overall, the review advocates for a paradigm shift in agricultural economics, emphasizing the need for a comprehensive, interdisciplinary, and sustainable approach to address global challenges and contribute to a more sustainable future.
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DOI: 10.30574/wjarr.2024.21.1.0322
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