On the Economic Model of Sustainable Development

Abstract

This paper aims to clarify the concept of sustainable development in order to enhance more operational policy formation for sustainable development. Economic models of sustainable development are classified into three types, including the Daly model and the Dasgupta model. The idea of each model is derived from the extension of a part of the definition of sustainable development originally advocated by the Brundtland Commission. Features and unresolved issues of each of the three models are analyzed to encourage research on sustainable development.