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A financial crisis on top of the ecological crisis: Ending the monopoly of neoclassical economics
Mälardalen University, School of Sustainable Development of Society and Technology. (Sustainability economics)ORCID iD: 0000-0003-2689-819X
2009 (English)In: Real-world economics review, ISSN 1755-9472, no 49, p. 8-18Article in journal (Refereed) Published
Abstract [en]

A number of unsustainable trends, such as those related to climate change, biological diversity, environmental pollution, depleting fish stocks, deforestation, accumulating radioactive waste threaten people in different parts of the world and globally. In addition to this we are experiencing a financial crisis. Something appears to be seriously wrong with the mental maps of influential actors in different parts of the world. In both cases of crisis, the tendency is to blame market actors for their greediness and risk behaviour or national governments for the lack of relevant regulation, or both.

I will here argue that among potential explanatory factors we also need to include ideas about the role of science in society, paradigms in economics, established political ideologies (and other ideologies) as well as institutional arrangements. This means that also science and universities are involved. It is argued that the monopoly position of neoclassical economics at university departments of economics has played a significant role by influencing the mental maps of many actors and making them more legitimate. Even the so called Nobel Prize in Economics is part of this picture.

Place, publisher, year, edition, pages
2009. no 49, p. 8-18
Keywords [en]
Neoclassical economics; monopoly; social constructivism; democracy; sustainability crisis; monetary and non-monetary dimensions; decision-making; efficiency
National Category
Economics and Business
Research subject
Industrial Economics and Organisations
Identifiers
URN: urn:nbn:se:mdh:diva-5703OAI: oai:DiVA.org:mdh-5703DiVA, id: diva2:211223
Projects
Understanding sustainability economics
Note

Detta är alltså skrivet för en lätt åtkomlig internettidskrift

Available from: 2009-04-09 Created: 2009-04-09 Last updated: 2017-05-31Bibliographically approved

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http://www.paecon.net/PAEReview/issue49/Soderbaum49.pdf

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Söderbaum, Peter

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CiteExportLink to record
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Citation style
  • apa
  • 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