Keywords: sustainability, sustainable development, basic needs, equal treatment, operational sustainability, business strategy, public policy, market applications, sustainability axioms
What is sustainability?
The goal of this paper is to provide a definition of the concept of sustainability with the level of rigor and clarity of neoclassical theory, based on two axioms that ensure equal treatment of the present and the future introduced by the author. We discuss applications to markets, business strategy and public policy. The approach is anchored on the concept of satisfying the basic needs of the present and the future, defined in the author's work; it is compared with other important contributions to the theory and practice of sustainability.