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A Sustainable Economy

In: Rethinking the Market Economy

Author

Listed:
  • Jean-Jacques Lambin

    (Università degli studi di Milano-Bicocca
    Université catholique de Louvain)

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.

Suggested Citation

  • Jean-Jacques Lambin, 2014. "A Sustainable Economy," Palgrave Macmillan Books, in: Rethinking the Market Economy, chapter 3, pages 29-58, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-39291-6_3
    DOI: 10.1057/9781137392916_3
    as

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