Human Potential in the System of Sustainable Development

Abstract

The essence of sustainable development is that the progress of the current generation does not go against the interests of future generations. In the classical definition, the balance between generations is understood as the balance of needs. However, the word “needs” can be interpreted differently. First, we can talk about the ability to meet the needs in the context of the availability of natural resources. This means that we must leave to future generations the same amount of resources that we have, so that they can meet their needs with these resources. Secondly, we can talk about the ability to meet the needs as a standard of living. This means that for future generations it should be at least the same as the standard of living of our generation. At the same time, it is absolutely not necessary that this be achieved due to the availability of natural resources. For example, we can now invest some resources in the development of human capital and knowledge, and future generations will provide a higher standard of living through the growth of knowledge. Consequently, the factor of human capital, determining the pace of introduction of innovative technologies and moving away from resource-intensive industries, will determine sustainable development in the process of transition to a post-industrial economy.