2.2.3. Sustainable development and
environment accounting
Environmentalists use the term sustainability to characterize
the desired balance between economic growth and environment preservation.
Sustainability generally refers «meeting the needs of the present
generation without compromising the needs of the future generation»(Todaro
& Smith 2006; 471).Therefore, it is important that development policy maker
incorporate some form of environmental accounting into their decision. Thus
policy maker may set a goal of no net loss of environmental assets
2.2.4. Three objectives of
development
Through some combination of social, economic, and
institutional processes, a society secures the means for obtaining a better
life. Whatever the specific components of this better life, development in all
societies must have at least the following three objectives (Todaro & Smith
2006; 22);
o To increase the availability and widen the distribution of
basic life-sustaining.
o To increase the level of living (income, jobs, education,
culture and values).
o To expend the range of economic and social choices available
to individuals and nations by freeing them from servitude and dependence.
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