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Strategies in relation to complexities: From neoclassical Cost-Benefit Analysis to Positional Analysis
Mälardalen University, School of Sustainable Development of Society and Technology. Mälardalen University, School of Business, Society and Engineering. (Ekonomi för hållbar utveckling)ORCID iD: 0000-0003-2689-819X
2020 (English)In: Economic Philosophy: Complexities in Economics / [ed] John B. Davis & Wade Hands, Bristol: World Economics Association BOOKS , 2020, p. 75-92Chapter in book (Refereed)
Abstract [en]

In this chapter neoclassical Cost-Benefit Analysis (CBA) is criticised as being too simplistic and also too specific in ideological terms. Positionnal Analysis (PA) is advocated as an alternative based on a defintion of economics in terms of multidimensional analysis and democracy. Non-monetary impacts are regarded as being as "economic" as monetary ones and decision-making is seen as a multiple-stage process where issues of inertia, path-dependence and irreversibility can be considered. While PA is still based on some simplifications, it is argued that the approach is closer to the complexities of the real world.

Sustainable development is presented as a multidimensional issue where mainstream neoclassical theory has failed. A degree of pluralism in economics is needed to overcome some of the present unsustainable trends. As an example CBA-analysts cannot dictate correct values for assessment in a democratic soviety. In relation to decision-making, different and competing ideological orientations need to be considered.

Place, publisher, year, edition, pages
Bristol: World Economics Association BOOKS , 2020. p. 75-92
Series
World Economic Association CONFERENCE BOOK SERIES
Keywords [en]
Economics, Complexity, Cost-Benefit Annalysis, Positional Analysis, multidimensional, ideological orienntation, democracy, sustainable development, inertia, irreversibility
National Category
Social Sciences Economics and Business
Research subject
Industrial Economics and Organisations
Identifiers
URN: urn:nbn:se:mdh:diva-47041ISBN: 978-1-911156-49-9 (print)OAI: oai:DiVA.org:mdh-47041DiVA, id: diva2:1393418
Available from: 2020-02-16 Created: 2020-02-16 Last updated: 2020-02-24Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
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Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
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More languages
Output format
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  • asciidoc
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