INTELLECTUAL ECONOMICS 2009, Number 1(5)
Algimantas Misiūnas, Ieva BalsytėTHE ESSENCE OF SUSTAINABLE SOCIAL DEVELOPMENT AND POSSIBILITIES FOR MEASURING IT
Mykolas Romeris University Publishing Centre. Vilnius. Lithuania 2009 Nr.1(5), p. 61-71
Abstract
The concept of sustainable development has already been carefully analysed from the theoretical point of view. It is understood as non-declining public value which takes into consideration technological, ecological, social restrictions on activity. Sustainable development has to ensure not only economic growth but also compatibility of economic activity with environmental, social and intellectual aspects. This currently widely-recognised idea means that economic growth as the key and the only objective of development is not sufficient in order to ensure welfare of present and future generations. Moreover, it is impossible to pursue the desired economic, ecological or social development levels in isolation, i.e. without synchronically ensuring at least a minimum development level in each of these development forms. The article explores theoretical and practical aspects of measuring sustainable social development..
JEL Classification: Q200, Q580.Keywords: sustainability, development, capital, welfare.