Abstract
The context of the concept of weak sustainability is examined using a three-tier hierarchy of value. We argue that weak sustainability is relevant only in the context of market exchange at a particular point in time. It offers an inadequate guide to the sustainability of social institutions and of the natural world. On the other hand, Georgescu-Roegen's concept of a viable technology recognizes that the integrity of the social and environmental systems surrounding market activity must be maintained if the human species is to persist through time. The concept of viability recognizes that market activity depends not only upon the sustaining functions of the environment but also upon the social sustaining functions of human institutions.
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