What is sustainable economic development?

Sustainable economic growth is economic development that attempts to satisfy the needs of humans but in a manner that sustains natural resources and the environment for future generations. An economy functions in the ecosystem. ... In fact, an economy cannot exist without it.Increasing recognition that the overall goals of environmental conservation and economic development are not conflicting but can be mutually reinforcing, has prompted calls for 'environmentally sustainable' economic development.

Sustainable economic growth is economic development that attempts to satisfy the needs of humans but in a manner that sustains natural resources and the environment for future generations. An economy functions in the ecosystem. We cannot separate the economy from it. In fact, an economy cannot exist without it. The ecosystem provides the factors of production that fuels economic growth: land, natural resources, labor, and capital (which is created by labor and natural resources). Sustainable economic growth is managing these resources in a manner that they will not be depleted and will remain available for future generations.

While many economists and people disagree about the importance of the environment regarding economic activity, the following facts are seldom disputed:

1. The extraction and depletion of natural resources, as well as pollution and permanent changes made to the landscape, are caused by economic activities and can do harm to the environment.

2. Many of the costs of the harm created by economic activities are not borne by those who cause it but by other people who neither obtain the benefits from the economic activity or agree to pay the costs related to it. Pollution is a perfect example. Businesses are permitted to pollute to a certain degree (less now than in the past). They don't have to pay for the pollution, but society does by dirty air, water, and contaminated soil that affect the quality of our air, water, and food. This pollution can lead to serious health effects, which may reduce the quality of life and health of the population. We call a cost borne by someone who did not agree to bear it an externality.

3. Humans live in an ecosystem and cannot survive without it. If we destroy the environment, we will eventually destroy ourselves.