Development Versus Sustainability

Development Versus Sustainability

Development and sustainability are essential elements in the progress of an economy since they contribute positively to the lives of people. While the two variables seem to hold a similar meaning, they differ in the time they take when enhancing lives. In this regard, development aims at improving the lives of people in the present generation. At the same time, sustainability focuses on improving the quality of life of people in both the current and generations to come. Sustainability also aims at raising the lives without affecting the natural endowment and environment adversely (Bebbington & Unerman, 2018). Although the two economic matrices need to work together to achieve balanced, sustainable development, they exhibit conflicts and trade-offs during their actualization.

Some of the potential trade-offs emanate from issues such as food security, inequality, economic development, life on land and in water, and poverty. While various governments strive to balance these elements in the respective countries, development, and sustainability exhibit some conflicting interests. For instance, as a nation seeks to raise of its citizenry by mobilizing industrialization to create jobs, the companies established cause immense pollution, which may not favor the future life (Bebbington & Unerman, 2018). On the same note, as nations strive to enhance development and alleviate poverty within their boundaries, they fail to utilize environmentally friendly approaches. Therefore, even though they attain the status of developed nations, they threaten the future lives of people, animals, and plants.

The opportunities for development are growing immensely in different parts of the world since the adoption of new technological innovations in companies helps to improve the lives of people. Besides, the internet of things has also contributed to provide more opportunities since people utilize it to market products and exchange ideas on sustainable development approaches that they can use to improve their quality of life. The internet also provides opportunities for development with limited trade‐offs assist, which enhances a balance between development and sustainability. In this regard, the internet enables industries to minimize resource wastage, hence prolonging their usage for the future generation. On the same note, the internet allows companies to share practical socio-economical approaches that can enhance development and maintain natural endowment and environment at the same time.

References

Bebbington, J., & Unerman, J. (2018). Achieving the United Nations sustainable development goals. Accounting, Auditing & Accountability Journal.