chapter  5
The relevance of Post-Keynesian economics to sustainable development
Pages 15

Some economists have attempted to broaden the concepts of economic growth and development by considering the natural environment, the economy, and society as inextricably interrelated (Daly 1977, 1993; Norgaard 1988, 1989, 1994). Each has its own capital stock, which must be sustained. Capital stocks include not just traditional manufactured capital (private and public), but the stock of natural resources (natural capital), accumulated human skills and knowledge (human capital), and social capital. Sustainable development has been associated with the maintenance of these different types of stocks for present and future use.