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Ecological economics can broadly be understood as "economics for sustainable development". It is suggested that mainstream neoclassical economics, while having a role as part of a pluralist perspective, is not enough in our attempts to deal constructively with climate change and other elements of the sustainability challenge. Economics need to be framed in alternative ways and the close to monopoly position of neoclassical theory abandoned.

In the present chapter, the focus of neoclassical theory on the monetary dimension, so called "monetary reductionism", is questioned and multidimensional analysis of a particular kind, positional analysis, recommended. It is furthermore argued that economics, wheter neoclasssical or other, is always political economics. Values and ideological orientations are necessarily involved. This in turn suggests that democracy has to be taken seriously in defining economics and in economic analysisi. It is proposed that economics is defined as "multidimensional management of resources in a democratic society". Individuals and organizations are understood as political actors and are assumed to be guided by their ideoloogical orientation or mission. Strengthening democracy is judged to be one among paths to a sustainable national and global society.