ABSTRACT
Sustainable development is one of the most important concepts in discussing society’s future. In the economic literature, this concept was introduced in the 1970s, then gradually became a key concept following the publication of the Rome Club’s seminal report “Limits to Growth” (Meadows et al. 1972) and the double oil shocks in 1973 and 1979. The seminal definition of sustainable development was provided by the Brundtland report (World Commission on Environment and Development, 1987). This report defines sustainable development as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” Subsequently, many researchers have examined whether or not modern society is sustainable from economic, social, and environmental perspectives.
