EN
The concept of sustainable development has ąuickly gained importance during the last two decades. It has been recognised that economic growth that is achieved at cost of environmental deterioration will not last forever. Furthermore, economic growth does not solve many social problems. For example, income ineąualities on a world scalę have increased during the last four decades [Todaro, 1997, 42] \ also the problem of social exclusion within and between countries seems to be becoming a bigger and bigger problem [Castells, 1998], The aim of this short article is to discuss some theoretical issues of sustainability which are important for achieving sustainable development. First, the importance of knowledge to sustainable development will be discussed. Then, the relation between stakeholder interests, time-scale and sustainable development is elaborated. Finally, some thoughts on the ąuestion “sustainable development of what” will be presented.