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Regular version of the site

Book chapter

Sustainability vs. business development. Paradox of the modern world

P. 83-95.
Danilova E. E., Udalov Y. B.

Forty years ago the analysis of “The Club of Rome’s” for the first time set the problem of the limited recourses on the world’s agenda. In 2004 the same authors conducted the recurring analysis showing that the global society has not only comprehended the problem but made attempts to resolve it more or less successfully. At the same time, the world crises of the last ten years demonstrated that the problem of sustainability is not limited to resources or ozone depletion. How can we think of a sustainable environment in a non-sustainable economy or society? Aren’t these two sorts of sustainability closely linked together? The answers could depend on many factors, among which we distinguish the influence of the corporations and managerial behavior on the modern world. So, the question is: How the corporations designed to be the pillars of stability and dynamic development influence on the sustainable development of the entirely society? This paper shows major fundamental trends of the corporal and societal development, the dynamic of the formation of the managerial class. We explore the internal contradiction of modern corporations, which in practice become (financial institutions in particular) a risk factor not only to their own stability, but also to the society as a whole. Our concept could lead to a more dynamic approach to corporate regulation. The solution to the problems described in this paper can be a key factor for further sustainable development as for corporations as well for the modern society.