A Holistic and Concrete Approach to Sustainable Development

The mainstream definition of sustainable development, which was put forward by the World Commission on Environment and Development (WCED), emphasizes the meeting of needs of the present generation without compromising the welfare of future generations. However, it is very difficult to connect this definition to the objectives of sustainable development put forward by the WCED. In this paper, we put forward a definition, objectives and strategies such that these are linked by a tight relationship. We define sustainable development as that which over time results in a non-decreasing proportion of the population meeting its basic needs: food, shelter, clothing, energy and the ability of each individual to enhance his/her well-being through human capital formation. The policies recommended by us include both adequate nutrition for children, and education which stresses on the development of comprehension, deductive powers, intuition and imagination as well as emotional intelligence, thereby giving an opportunity to an increasing proportion of the population to enhance their well-being. An adequate level of nutrition is needed for students to benefit through increases in human capital. Similarly, we recommend stress on health services so that the productivity of the human capital stock of adult workers remains intact. In emphasizing the meeting of basic needs, we target the alleviation of poverty and environmental conservation. We also recommend facilitating the expansion of those occupations which are intensive in human capital through policies which stimulate the demand and supply side in relevant product and labour markets. This helps to economize on the use of physical and natural capital while meeting the basic needs of an increasing proportion of the population.