Social Aspects of Sustainability

Abstract

The notion of sustainability usually refers to environmental and resource economics and was only recently extended to its social implications. This paper attempts to explore these social aspects of sustainability. Therefore, a definition of sustainability that applies the ides of exter- nal effects to intertemporal problems is suggested. Two effects on sustainability can be identi- fied. First, social security instruments may affect a sustainable growth path (indirect effects), second, the stock of social capital may diminish (direct effect). It is shown that indirect effects are ambiguous and significant direct effects are unlikely to occur.