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A study of sustainability needs to consider the role of all forms of capital—natural, biological, social, technological, financial, cultural—and the complex ways in which they interact. All forms of capital derive their value, utility and application from human mental awareness, creativity and social innovation.
This makes human capital, including social capital, the central determinant of resource productivity and sustainability.
Humanity has entered the Anthropocene Epoch in which human changes have become the predominant factor in evolution. Humanity is itself evolving from animal physicality to social vitality to mental individuality.
This transition has profound bearing on human productive capabilities, adaptability, creativity and values, the organization of economy, public policy, social awareness and life styles that determine sustainability. This article examines the linkages between population, economic development, employment, education, health, social equity, cultural values, energy intensity and sustainability in the context of evolving human consciousness.
It concludes that development of human capital is the critical determinant of long-term sustainability and that efforts to accelerate the evolution of human consciousness and emergence of mentally self-conscious individuals will be the most effective approach for ensuring a sustainable future.
Education is the primary lever. Human capital; social capital; education; employment; evolution; inequality; individuality; knowledge; population.
Introduction The subject of sustainable development encompasses a broad spectrum of economic, ecological, political, technological and social issues, including energy, water, mineral resources, climate, urban congestion, population, pollution, industrialization, technological development, public policy, health, education, and employment.
A compartmentalized piecemeal approach to the subject, such as one focusing on technological solutions or public policy issues, may shed light on specific aspects, but the complex interactions between various dimensions preclude such an exclusive concentration.
Problems are compounded when any of these subsystems and elements is regarded as if it were separate and independent from the choices and actions of human beings.
When the time dimension is also considered, the challenge becomes even more complex, because over decades many of the underlying assumptions on which our view of social phenomenon is predicated may be radically altered by new and unforeseen evolutionary trends, high-impact and hard-to-predict black swans.
The population explosion of the s, the demographic transition that followed, Green Revolution in the late s, the sudden end of the Cold War inthe meteoric rise of the Internet afterthe rapid emergence of China and India into global prominence sinceand the recent global financial crisis the first of this magnitude in seven decades were unforeseen even a few years before they occurred.
Entering the 21st century, the speed of change has only accelerated. Therefore, this study is founded upon an evolutionary perspective of social development.
Human capital consists of many dimensions, which have been examined in-depth by other researchers.
The objective of this article is to consider the role of human capital, not merely as one essential component but as the primary determinant of the process of social, economic and ecological development, and to explore important relationships between its various dimensions that are critical to sustainability.
Wider Conception of Capital In recent decades, humanity has recorded remarkable achievements, while placing increasing demands on our environment.
The challenge now facing humanity is to find ways to harness all available forms of capital in a manner that promotes human welfare, well-being and sustainable development for all. Until recently the notion of capital was largely confined to financial assets utilizable for commercial and industrial investment.
But a broader conception of capital can be traced back to Adam Smith, who defined four types of fixed capital—land, buildings, machinery and human abilities 1.
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Natural capital consists of minerals, energy sources and other environmental resources that exist independently of human beings. Biological capital consists of all species of plants and animals that serve as the basis for other life, as well as their by-products and waste-products, such as coral reefs and the organic content of soil.
Human capital includes a wide range of human capabilities:A PhD THESIS ON "ROLE OF FOREIGN INSTITUTIONAL INVESTORS IN INDIAN STOCK MARKET" An Overview Of Indian Capital Market Introduction The capital market is a vital of the financial system.
Capital market provides the support of capitalism to the country. Market Development Financial Institutions Financial Intermedraries New Issue. An Investigation of the Relationship between Capital Market Development and Economic Growth: The Case of Saudi Arabia Meshaal Jasem M Alshammary A thesis submitted in partial fulfilment of the requirement for the degree of Doctor of Business Administration School of Accounting and Finance Capital Market Development (CMD) Variables.
Definitely, a Capital Market is the market for resource intermediation for capital input, i.e., the financial market in which medium and long-term credit is available for whole and sub-sector economic development.
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