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How economics can become compatible with democracy
Mälardalen University, School of Business, Society and Engineering, Industrial Economics and Organisation. (Ekonomi för hållbar utveckling)ORCID iD: 0000-0003-2689-819X
2017 (English)In: Green Economy Reader: Studies in Ecological Economics / [ed] Stanislav Shmelev, Springer, 2017, 25-38 p.Chapter in book (Refereed)
Abstract [en]

This chapter introduces a Scandinavian and European tradition of institutional economics as ana alternative non-orthodox branch of economics that claims relevance in addressing sustainable development issues. The challenge of sustainable development is complex. Existing development trends are unsustainable in more ways than one, for example concerning climate change, loss of biological diversity, depletion of fish stocks, risk of nuclear accidents. When attempting to deal with these issues, it is often asssumed that we can rely on science and economics in particular. Economics claims to supply a conceptual framework and theory of efficient resource allocation at various levels; at the level of individuals, of business corporations and of society.

University departments of economics educate students in one way, nationally and globally, so called neoclasssical economics. This theory can offer some ideas about how to deal with sustainability issues. But neoclassical theory has been dominant in a period when serious problems related to sustainability have emerged. It is therefore probably wise to also consider alternatives to neoclassical theory, such as institutional economics. In the present essay I will - while pointing in the direction of institutional theory - suggest a way of opening up economics to make the field more compatible with democracy. Economics has to move from present monism to pluralism and become more sensitive to value or ideological issues in present society.

Place, publisher, year, edition, pages
Springer, 2017. 25-38 p.
Keyword [en]
Ecological economics, Democracy, Neoclassical economics, Institutional economics, Sustainable Development
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:mdh:diva-33501DOI: 10.1007/978-3-319-38919-6_2ISBN: 978-3-319-38919-6 (print)OAI: oai:DiVA.org:mdh-33501DiVA: diva2:1044625
Projects
Economics for Sustainable Development
Note

Kapitlets nummer i boken är 2

Springer anger 2017 som utgivningsår av någon anledning. Boken finns idag och jag rekommenderar den till MDHs bibliotek

Available from: 2016-11-04 Created: 2016-11-04 Last updated: 2016-12-27Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf