Since its birth, modern economics has mainly focused on searching for the conditions for the achievement of sustainable growth, in addition to understanding the workings of the economy. The central issue is how development and the highest possible level of well-being can be ensured for members of society.
The question and the answers to it have driven and continue to drive the evolution of economics. The results achieved so far are strongly polarised.
Sustainable development not only means that growth consumes less material and energy, but also that its benefits are distributed fairer, to the wider society. The sustainable future therefore can be achieved by transforming our thinking and creating new grounds for growth.
Examining from a central bank perspective, the subject of sustainable development is an extremely complex phenomenon, feeding back to itself, which can also be strengthened by central banks’ activities. In many cases, sustainability appears in central banks’ mandates in some form.
BC4LS, established by Pallas Athéné Domus Meriti Foundation and John von Neumann University, is a European research and education centre as well as a professional and cultural interaction point.
The Budapest Centre for Long-term Sustainability aims to: