The economics-based theories discussed in this chapter (often adopted by free market advocates) arguably do not provide great hope for addressing climate change. These theories embrace self-interest as a central assumption. But, quests towards sustainable ecological development require people, and organisations, to consider the interests of future generations, rather than simply their own wealth, when making investment and consumption decisions. In this regard we can consider a frequently used definition of sustainable development, this being:
…development that meets the needs of the present world without compromising the ability of future generations to meet their own needs (World Commission of Environment and Development, 1987)
Related to the above point, a further and perhaps somewhat controversial point is whether university economics and finance schools should continue to teach students that ‘self-interest’