Economic Impact Considerations for Sustainable Design Engineering as Derived From the Literature

Abstract Sustainable development is frequently discussed in terms of social, environmental, and economic impacts, often referred to as the three pillars of sustainability. Understanding each of these pillars independently, as well as their interdependencies and trade-offs, is essential for effective sustainable development. Thus, as one step in the direction of increased sustainability, this paper explores the economic impact pillar independent from the other two. Specifically, this paper contributes to the archival scholarship on sustainable development by presenting eleven types of economic impacts relevant to sustainable design engineering. These eleven economic impact categories were derived from the literature via a semi-automated review of the observed economic impacts of engineering design decisions and engineered products. This categorization forms a baseline for future research and for the development of economic sustainability models for design engineers. In its current form, this taxonomy may also assist design engineers as they consider the economic impacts of their work, facilitating an increase in both the variety and quantity of impacts considered. Furthermore, we recommend considering these economic impact categories together with the set of social impact categories presented by Rainock, et al. [1]. Considering both sets together can increase one’s understanding of the interplay — including trade-offs — between these two pillars of sustainable development.