5.

Economics of Sustainable Development

Sustainability can be defined as the practice of reserving resources for future generation without any
harm to the nature and other components of it. Sustainable development ties together concern for
the carrying capacity of natural systems with the social, political, and economic challenges faced by
humanity. There is an additional focus on the present generations' responsibility to regenerate,
maintain and improve planetary resources for use by future generations.
Sustainable development is an approach to economic planning that attempts to foster economic
growth while preserving the quality of the environment for future generations.

Sustainable development has been described in terms of three dimensions, domains or pillars. In the
three-dimension model, these are seen as "economic, environmental and social" or "ecology,
economy and equity"; this has been expanded by some authors to include a fourth pillar of
culture, institutions or governance.

Gender and Development

The pre-World War II period saw flourishing movements of various forms of feminism; however, the
nexus between (economic) development and women was not clearly articulated until the second half
of the 20th century. Women first came into focus in development as objects of welfare policies,
including birth control, nutrition, pregnancy, and so forth. In 1962 the UN General Assembly asked
the Commission on Women's Status to prepare a report on the role of women in development. 

Women in development (WID)

Theoretical approach The term “women and development” was originally coined by a Washington-
based network of female development professionals in the early 1970s. The Women in Development
movement (WID) gained momentum in the 1970s, driven by the resurgence of women's movement
in northern countries, whereby liberal feminists were striving for equal rights and labor opportunities
in the United States. Liberal feminism, postulating that women's disadvantages in society may be
eliminated by breaking down stereotyped customary expectations of women by offering better
education to women and introducing equal opportunity programs, had a notable influence on the
formulation of the WID approaches, whereby little attention was given to men and to power relations
between genders.
The translation of the 1970s feminist movements and their repeated calls for employment
opportunities in the development agenda meant that particular attention was given to the productive
labour of women, leaving aside reproductive concerns and social welfare. 

Women and development (WAD)

Women and development (WAD) is a theoretical and practical approach to development. It was
introduced into gender studies scholarship in the second half of the 1970s, following its origins,
which can be traced to the First World Conference on Women in Mexico City in 1975, organized by
the UN. It is a departure from the previously predominant theory, WID (Women in Development)
and is often mistaken for WID, but has many distinct characteristics.
While previous thinking held that development was a vehicle to advance women, new ideas
suggested that development was only made possible by the involvement of women, and rather than
being simply passive recipients of development aid, they should be actively involved in development
projects. WAD took this thinking a step further and suggested that women have always been an
integral part of development. The WAD approach suggests remove women from the patriarchal
hegemony that would exist if women participated in development alongside men in a patriarchal
culture, though this concept has been heavily debated by theorists in the field. Rather than focus
specifically on women’s relationship to development, WAD focuses on the relationship between
patriarchy and capitalism.
Gender and development (GAD)
Gender and Development approach focus on the socially constructed basis of differences between
men and women and the need to challenge existing gender roles and relations. GAD marked a shift in
thinking about the need to understand how women and men are socially constructed and how ‘those
constructions are powerfully reinforced by the social activities that both define and are defined by
them.’ Gender role focus on social construction of identities within the household, it also reveals the
expectations from ‘maleness and femaleness’ in their relative access to resources.
Unlike WID, the GAD approach is not concerned specifically with women, but with the way in
which a society assigns roles, responsibilities and expectations to both women and men. GAD
applies gender analysis to uncover the ways in which men and women work together, presenting
results in neutral terms of economics and efficiency.

Gender equality refers to equal rights, responsibilities and opportunities that all persons should enjoy,
regardless of whether one is born male or female.
In the context of the world of work, equality between women and men includes the following
elements:
 Equality of opportunity and treatment in employment
 Equal remuneration for work of equal value
 Equal access to safe and healthy working environments and to social security
 Equality in association and collective bargaining
 Equality in obtaining meaningful career development
 A balance between work and home life that is fair to both women and men
 Equal participation in decision-making at all levels

Field if discrimination:
 Education
 Work and pay
 Government and policy making level
 Community life and organizations
 Violence against women

Governance in the Context of Liberalization and Globalization

Next lesson

Corporate Social Responsibility

Business dictionary defines CSR as "A company’s sense of responsibility towards the community
and environment (both ecological and social) in which it operates.

CSR is a management concept where by public and private companies integrated social and
environment concern in their business operation and interaction with their stakeholders. The
corporate responsibility issue include environmental management, eco-efficiency, responsible
sourcing, stakeholder engagement, labor standard and working condition, employee and community
relation, social equity, gender balance, human right, good government and anti-corruption measure.
Waste and pollution reduction, education and social program.

CSR policy functions as a self-regulatory mechanism whereby a business monitors and ensures its
active compliance with the spirit of the law, ethical standards and national or international norms.
CSR aims to embrace responsibility for corporate actions and to encourage a positive impact on the
environment and stakeholders including consumers, employees, investors, communities, and others.
The term "corporate social responsibility" became popular in the 1960s and has remained a term used
indiscriminately by many to cover legal and moral responsibility more narrowly construed.
Consumer perspectives
Most consumers agree that while achieving business targets, companies should do CSR at the same
time. Most consumers believe companies doing charity will receive a positive response. Somerville
also found that consumers are loyal and willing to spend more on retailers that support charity.
Consumers also believe that retailers selling local products will gain loyalty. Smith shares the belief
that marketing local products will gain consumer trust, social prestige and respect.

Approaches
It is said that for Chinese consumers, a socially responsible company makes safe, high-quality
products; for Germans it provides secure employment; in South Africa it makes a positive
contribution to social needs such as health care and education. And even within Europe the
discussion about CSR is very heterogeneous.

Common actions
 Environmental sustainability: recycling, waste management, water management, renewable
energy, reusable materials, 'greener' supply chains, reducing paper use and adopting Leadership
in Energy and Environmental Design (LEED) building standards.
 Community involvement: This can include raising money for local charities, providing
volunteers, sponsoring local events, contributing in education and social program, employing
local workers, supporting local economic growth, engaging in fair trade practices, etc.
 Ethical marketing: Companies that ethically market to consumers are placing a higher value
on their customers and respecting them as people who are ends in themselves. They do not try to
manipulate or falsely advertise to potential consumers. This is important for companies that want
to be viewed as ethical. Not trying to manipulate or falsely advertise to potential consumers.
 Philanthropy: Donating to national and local charities. Donations are made in areas such as the
arts, education, housing, health, social welfare and the environment, among others, but excluding
political contributions and commercial event sponsorship.
 Ethical labor practices: welfare.

Controversial industries
Industries such as tobacco, alcohol or weaponries firms make products that damage their consumers
and/or the environment. Such firms may engage in the same philanthropic activities as those in other
industries. This duality complicates assessments of such firms with respect to CSR.