We have entered now the era of Sustainable Development, where the focus is not only on ensuring that people from the most marginalized parts of the world have a good life, but that they also have aa sustainable and bright future. To help understand how a sustainable and bright future future is different from a merely good life, I thought I should remind our "valucentric" readers about the relationship between economic growth and sustainable economic development. Defining economic development The term development means a change over time, typically involving growth or expansion. According to (Norton, et al., 2006), development is a process with many economic and social dimensions. It is a dynamic process including not only changes in the structure and level of economic activity, but also increased opportunities for individual choice and for improved self-esteem. In the first Human Development Report , UNDP defined development as expanding people’s choices. Ec...
By Harrison Manyumwa