Economics of Developing Countries Dasgupta Intergenerational well-being increases over time, if and only if a comprehensive measure of wealth per capita increases The measure of wealth includes manufactured capital, knowledge, human capital and natural capital (E.G. Ecosystems) A countries wealth per capita can decline even while GDP per capita increases and HDI improves. Neumayer If human development is about enabling people to lead long, healthy, educated and fulfilling lives, then sustainable development is about making sure that future generations can do the same. Human development without being sustainable cannot be true human development SS – Strong sustainability High human development almost invariably being achieved at the price of strong unsustainability ‘Enabling everyone to be capable and free to do things and be the person they want to be is the goal of human development’ Providing people worth the capabilities to fulfill their needs, wants and desires stands at the heart of true economic development Sustainable development is ‘development that meets the needs of the present without
compromising the ability of future generations to meet their own needs’ Development is about enabling people Economic development is typically narrowly definied as high levels of per-capita income and/or consumption, but development is about much more than consumption