The article indicates a common axiom of Karol Wojtyła's personalistic philosophy and theory of development: human dignity is the highest value in the natural world. The author analyzes the content of the encyclical – Laborem Exercens, Sollicitudo Rei Socialis, Centesimus Annus in the context of personological economic theory by Professor Franciszek Piontek. Studies on the category of dignity and development prove the connection between human welfare and sustainable economic development. This study argues that sustainable development cannot disregard economic efficiency and it should not be made only on the basis of price and market mechanism. Sustainable development of contemporary civilization depends on an aggregate: economic, natural and human capital.