A Sustainable Economy

Jean-Jacques Lambin
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Jean-Jacques Lambin: Università degli studi di Milano-Bicocca

Chapter 3 in Rethinking the Market Economy, 2014, pp 29-58 from Palgrave Macmillan

Abstract: Abstract The well-known definition of sustainable development was proposed at the 1992 Rio de Janeiro conference by the Brundtland Commission’s report and reaffirmed at the Earth Summit Rio+20 in June 2012. Sustainable development is a development that meets the needs of the present without compromising the ability of future generations to meet their own needs. A more explicit but more diluted definition could be: a method of economic decision-making based on the democratic participation of all stakeholders — shareholders, workers, customers and citizens — across generations, while maintaining the collective, natural and cultural patrimony. The three main pillars of sustainable development are economic growth, environmental safeguards and social justice. The purpose is to find a coherent and viable balance between these three objectives. The sustainable development concept deeply modifies the conventional capitalist managerial approach in several ways.

Keywords: Corporate Governance; Life Cycle Inventory; Precautionary Principle; Natural Capital; Corporate Sustainability (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-39291-6_3

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DOI: 10.1057/9781137392916_3

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