ABSTRACT
Two important components of sustainable development have been recognized. One has centered on the disparity in wealth that is evident if one looks across different segments of the world’s population and the associated desire to help the poor. The second emphasized that economic development should not take place without consideration of its long-term environmental, social, and cultural consequences (Barbier 1987). This view emerged as a result of the growing awareness that the availability of natural resources and their capacity to provide ecosystem goods and services and to accommodate wastes is finite. It recognized the environmental constraints on human activities and acknowledged the need for fairness in terms of maintaining natural resource availability across generations.
