Sustainable Resources and Economic Development

Resources are the backbone of every economy. In using resources and transforming them, capital stocks are built up which add to the wealth of present and future generations.  Due to globalization and industrialization the resource utilization reaches maximum heights all over the world and it influences the environment which may impede the growth of the economy. However, the dimensions of the current resource use are such that the chances of future generations - and the developing countries - to have access to their fair share of scarce resources are endangered. Moreover, the consequences of the resource use in terms of impacts on the environment may induce serious damages that go beyond the carrying capacity of the environment. The use of materials has recently become a key issue in sustainability policies internationally, with the G8’s 3R (reduce, reuse, recycle) initiative. Hence in this paper an attempt is made to present the importance of sustainable resources and economic development.