CHAPTER THREE ABSTRACT

Chapter Three Challenges of the Current Development Model Abstract Chapter three discusses the concept of development within the current economic framework. It deals with the pros and cons related to the economic growth trajectory founded in neoliberalism and capitalism that has advanced many nations globally, especially the rich nations, while the darker and destructive impacts have grown larger to the detriment of especially the poorer nations. This darker side is examined that has led to crises related to climate, biosphere, and resources, subsequently causing a human crisis.

The chapter compares the current development model with the sustainable development model. Even though the word development figures in both models they are fundamentally different. The chapter defines these differences, and points to symptoms that indicate that there is a shift away from neoliberal capitalism brought about by the pandemic and talks about the reasons behind this. The chapter discusses the role of the state as it is the entity solely responsible for the wellbeing, safety, and progress of its citizens. As such it is the most important factor in implementing sustainability. The chapter closes with looking at future perspectives and other factors to assess the possibility of sustainable development in the current framework.