Social and economic influences significantly affect the development of competence, health, and well-being in modern society. During periods of profound social and economic change, such as the present, some sectors of society are often at very high risk of encountering a decline of social support and hence inadequate nurturance of developmental needs. Families with young children are often the most vulnerable, especially those in lower income groups. This social trend is likely to have a significant, negative impact on people's competence, health, and well-being. An overview of current theories of economic growth, the human development factors necessary to sustain wealth creation, and the major problems faced by many families and children highlight key challenges for society. Capitalism based on individualism will probably be unable to create enough wealth for everyone, since it tends to be captured by those interested in a wealth-driven society. Nations that have evolved capitalism in a broader societal context will probably meet the challenges and be able to create the wealth needed to sustain prosperous and healthy societies. Contains 54 references. (MDM)