Mainstream neoclassical economics may have a role also in relation to present challenges such as sustainable development but it should at the ame time be recognized that development has been unsustainable in a period where neoclassical economics has been dominant. In the present situation we need also consider alternatives to neoclassical theory such as institutional economics. We may even need to consider alternative definitions of economics. Economics can be defined as multidimensional management of limited resources in a democratic society. Neoclassical economics is specific in value and ideological terms being close to neoliberalism. But in a democratic society actors conneccted with university departments of economics need also consider alternative ideological orientations such as those connected with United Nations 17 Sustainable Development Goals. With a new definition of economics concepts such as cost and benefit need to be reconsidered. Similarly simplistic international trade theory has to be examined for example the claimed advantages of so called free trade
Denna publikation i form av bokkapitel har sitt ursprung i en tidigare DiVA rapporterad artikel "Do we need a new economics for sustainable development?" i Real-world economics review , issue no. 80, sidorna 32-44. Titeln och en del detaljer har ändrats av redaktören för boken.