Economic & Social Aspects of Sustainability

This paper addresses three economic aspects and three social aspects of sustainable development and how their current relevance differs from the more traditional views and practical applications. A quick definition of sustainable development is in order. It represents the development of some industrial or natural resource in order to meet the needs of the present without compromising the ability of some future generation to meet their own needs in a similar manner. Consider the new demands placed on all aspects of our industrial and natural resources in this new global economy. "Perhaps there is no more important question than the future, none that affects more deeply our private destinies and those of our children." (Heilbroner & Thurow, 1982) Demand continue to outstrip supply in many areas of society which adds new pressures on existing processes so the importance of the concept of sustainable development...
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