The economic viability of permaculture farms in Bulgaria

Donka Radeva

Abstract: Economic viability is a modern term and an attractive conception nowadays. But, historically the situation is others. The term has been neglected from the economic science for a long period of time. Its usage in the science has been noticed just for one-two decades. A review from the literature points out that on one hand, increasing is the interest of applying the term economic viability in the science research, academic sphere, political regulations and in business. On the other hand, the term is still debatable. Unified understanding and common concept don’t exist. In the current article a model for studying the economic viability is presented. Its practical implementation is demonstrated with the analysis of the permanent agriculture (permaculture) in Bulgaria. An original definition of the term economic viability is suggested, on the basis of critical review of its application in the science research and in practice. The conducted research of the permaculture farms in the country is presented. The results from it are analyzed with the methodology of the school of the New Institutional Еconomics – Economics of the transaction costs. The formulated conclusions are discussed in the light of the elaborated model. The conclusion about the economic viability of the Bulgarian farms, based on permaculture principles and ethics, is drawn.

Keywords: agroecology; economic viability; permaculture

Date published: 2018-01-31