Future Prosperity and Sustainability

Sustainability and future prosperity are central concepts for the Faculty of Economics and Business because they help us understand how economic activity can contribute to broad prosperity over time. In line with the University of Groningen’s Institutional Plan, we understand sustainability in ecological, economic, social, and cultural terms, and we focus on how organizations, markets, and institutions can create value without weakening the foundations of future well-being.

Growth in profits, income, market share, and consumption has often been used as the main measure of success in business and economics. Yet, that view is too narrow if it ignores the environmental, social, and institutional consequences of economic activity. At FEB, we therefore take a broader view of prosperity: not only focusing on how much an economy grows, but also on how well people, organizations, and regions can flourish in the long term.

This involves exploring how prosperity can be sustained without compromising its foundational elements. Key areas to consider include the preservation of natural resources, climate stability, social cohesion, and equitable participation. These considerations are relevant across various levels, ranging from individuals and teams to organizations, governments, value chains, and entire regions. For FEB, this is where economics and business can make a direct contribution: by understanding incentives, trade-offs, governance, responsible decision-making, and sustainable value creation.

We use the term future prosperity to capture a broader idea of flourishing, one that includes economic performance but is not limited to it. Sustainable prosperity is important because it is a condition for long-term resilience and well-being, in the Netherlands and beyond. Within FEB, this strategic theme connects research, education, and societal engagement to explore how business, consumers, civil society, and governments can collaborate to foster a more resilient and inclusive future.