When the needs of the present are met without compromising the ability of future generations to meet their own needs we speak of?

Sustainable development is the overarching paradigm of the United Nations. The concept of sustainable development was described by the 1987 Bruntland Commission Report as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”

What did Polanyi mean by the great transformation?

The Great Transformation (1944) concentrated on the development of the market economy in the 19th century, with Polanyi presenting his belief that this form of economy was so socially divisive that it had no long-term future.

What will happen in the year 2040?

We will all wear a huge range of sensors that will constantly monitor things such as blood pressure, blood sugar and blood oxygen level. Longevity will rise, with many living well beyond 100. Children born in 2040 will have a more or less indefinite life.

What is the importance of Brundtland Commission report?

The Brundtland Commission Report recognized that human resource development in the form of poverty reduction, gender equity, and wealth redistribution was crucial to formulating strategies for environmental conservation, and that environmental limits to economic growth in industrialized and industrializing societies …

What is the importance of the report Our Common Future in the history of environmental movement?

The report sought to recapture the spirit of the Stockholm Conference which had introduced environmental concerns to the formal political development sphere. Our Common Future placed environmental issues firmly on the political agenda; it aimed to discuss the environment and development as one single issue.

In what decade did Karl Polanyi argue that economics must be embedded into society and culture?

As early as the 1920s, Polanyi writes about the ‘self-regulating market economy’, ‘separation of society into political and economic spheres’ and ‘“economistic prejudice” that confused economy with a self-regulating economy’—themes that mark his scholarship in the later part of his life (Mendell, 1990, pp. 71–73).

What does Polanyi mean by fictitious commodities and why does this depiction matter?

From Wikipedia, the free encyclopedia. The concept of fictitious commodities (or false commodities) originated in Karl Polanyi’s 1944 book The Great Transformation and refers to anything treated as market commodity that is not created for the market, specifically land, labor, and money.