摘要:The term sustainability is linked with the nexus of economic development, environmental quality, and social equity. This term was evolved in 1972, when the world community first acknowledged the link between quality of life and environmental quality at the United Nations Conference on the Human Environment in Stockholm. However, in 1987 sustainable development was defined as “development that can meet the needs of the present generation without compromising the ability of future generations to meet their own needs”. This called for the need for integrated decision making which may be capable of balancing the economic and social needs of the people with the regenerative capacity of the natural environment. This paper examines the concept, measures, history and challenges of sustainable development in the context of the world economy and delineates the difference between economic growth and economic development. The study also investigates the core values of development. It also probes in to the major pillars on which sustainable development rests. The paper finds that the factors governing sustainable development includes saving and investment, poverty, population, pollution, participation, policy and market failures, and prevention and management of disasters. The paper concludes that consumption, production and distribution are the three major challenges and determinants of sustainable development.
关键词:developing countries; economic development; growth; sustainability; sustainable development