Economic Sustainability


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In the recent past, rising environmental, social, political, and economic situations have given rise to the concept of sustainability.  Sustainability can be defined as the capacity to endure.  It is the capacity to live in the present and live in the future as well.  In realm of life, sustainability can be explained as long term maintenance of human responsibility to the environment, economic, and social dimensions. It includes the concept of stewardship or the responsibly to manage for future. Closely tied to the concept of sustainability is sustainable development. This is defined as development activities that have the capacity to help the world to meet current developments demands without compromising the ability to meet future demands.  The concept of sustainable development has become operational in the recent past because of the concerns regarding the impact of human activities on the environment.  It is concerned with creating strategies on how to incorporate sustainability in human life by ensuring that the world can supply what is needed now and in the process not compromise the ability of the future generation to meet their needs.  Sustainable development therefore entails pattern of economic growth in which use of resources is aimed at meting the needs of the current generation in such a way that future generation will also be able to meet their needs from the same resources.