A key element of sustainable development is to integrate carrying capacity concepts into economic thinking. However, because of the difficulty in determining carrying capacity, decisions must be made under scientific uncertainty. The discussion of carrying capacity, scientific uncertainty and decision-making is critical to a true understanding of the potential and the limits of sustainable development. Many individuals believe that sustainable development represents a fine-tuning of capitalist economic theory. The use of market tools is one of the most robust areas of discussion regarding sustainable development.
Capitalist theory utilizes market and prices to mediate transactions.
If the price is not correct, then the market will not accurately mediate the transaction. However, the types of problems implicit in sustainable development demand that the market consider issues such as resource depletion and need as well as more traditional externalities. This session explored the ways to fine-tune the market system to incorporate the market issues related to sustainable development. Again drawing on the philosophical base of cooperation, sustainable development emphasizes dispute resolution and full participation. This session emphasized the practical and philosophical basis for stakeholder empowerment and the use of dispute resolution concepts in sustainable development models.