Acta Universitatis Danubius. Œconomica, Vol 10, No 2 (2014)

Abstract

The aim of this article is to provide a deeper analysis on the concept of sustainability. In this respect, we make use of the already large body of scientific work developed on the subject, up to this point. The main focus of the article is the problem of sustainable development under limited resouce constraints. The implications of our research are that sustainability cannot be a function maximization issue (regardless of what quantity would be maximized), due to the fact that sustainability is a functional dependent on 3 functions, all of which are heavily reliant on capital. Given the fact that capital is limited, one cannot maximize one of the functions, without minimizing another. We conclude, thusly, that sustainability is a constraint on development, at the root of which lies the problem of limited capital.