Dynamic innovation, adaptation and adoption of new and better ways to allocate and productively use resources over time so as to continuously enhance what is achievable in terms of people’s needs or well-being. At the same time, we may face inter-temporal tradeoffs, in the well-being of people over time. In such cases, it is important to strike the right balance. Climate change is a much cited case of a potential win-lose outcome over time, and therefore unsustainable development. It is also, however, possible to go too far in the opposite direction, adopting policies that hurt those in the present more than they benefit those in the future.