In the last few decades sustainable development has become a universal cause. One of the key requirements to achieve sustainable development is rethinking and identifying the concepts and requisites consistent with this idea that rests heavily on environmental, social, and economic sustainability. In this light, this conceptual study aims to re-analyze concepts like "social capital" and the diversionary narration of development, and to draw attention to the important role of knowledge-producing institutions and fundamental knowledge requirements that underlie and influence the quantity and quality of social capital and consequently sustainable development. Conceptualizing and applying an analytico-critical approach requires a systematic, analytical and critical review, which forms the main part of the research methodology employed in this study. In addition, to reinforce the applicability of this article, experiences of some international institutions and advanced countries are accentuated. My findings, which are based on theoretical and empirical studies, emphasize on quality and relevance of education as well as re-conceptualized requisites and new approaches to future education. The reflection of these concepts in citizens' social capital lays the necessary ground for sustainable development.