Importance of Sustainable Development

The importance of sustainable development lies in the fact of avoiding capsizing circumstances in an economy when the economic cycle is in a negative phase. He sustainable development It implies institutional development, clear rules of the game that integrate all the actors, as well as a broad promotion of business activity. Freedom from the economic point of view must be considered essential to achieve this objective, with a state that refrains from intervening in the economy except to generate equality of opportunities. As for the productive forces, they must focus on those economic sectors that have comparative advantages.

There are many disputes when it comes to considering which are the best decisions that a country must take to guarantee a sustainable development. In general, aspects such as the role of the state and the market tend to give content to these debates. In broad terms, it can be said that nations that have been successful in generating a sustainable development have been characterized by allowing the market to solve the problems of

society, with the addition of a state that tends to guarantee that there are opportunities for all with education, basic health and clear rules of the game for the different actors. Institutions play a key role in this regard. Indeed, a state that enforces the private property and the life of the inhabitants tends to generate conditions for investments to be attracted.

Another important point to generate a sustainable development It's predictability. With this, it is intended to allude to the fact that the named rules of the game must be maintained over time, there being the possibility that the conditions dictated by political power tend to eliminate the uncertainty. This fact makes it possible for the investments that are carried out to be made with a view to the distant future. In this way, the possibility of projecting decisions is enabled.

To finish, the sustainable development it tends to be established when the country focuses on producing what it has a comparative advantage for. Indeed, countries have the characteristic of having better productivity for a specific area. When efforts are made in these sectors, the possibility of success is greater and therefore sustainability. It is important to emphasize this concept because there are many occasions when there is a temptation to encourage productions for which the country is not prepared, a fact that implies a without sense.