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The Role of Economics and Democracy in Institutional Change for Sustainability
Mälardalen University, School of Business, Society and Engineering, Industrial Economics and Organisation. (Ekonomi för hållbar utveckling)ORCID iD: 0000-0003-2689-819X
2014 (English)In: Sustainability, ISSN 2071-1050, E-ISSN 2071-1050, Sustainability, no 6, p. 2755-2765Article in journal (Refereed) Published
Abstract [en]

Institutional change for sustainable development does not happen by itself. Individuals and organizations function as actors to influence development processes. Reference is made to a "political economic person" (PEP) guided by his/her ideological orientation and "political economic organization" (PEO), guided by its "mission". Leaving present unsustainable trends is a matter of politics and ideology and even power positions, where democracy plays a crucial role. The perspectives of influential (and other) actors are essential in facilitating (or hindering) change. I will discuss ideas of the role of science in society, mainstream economics in relation to institutional economics in the spirit of K. William Kapp and Gunnar Myrdal as well as neo-liberalism as ideology (where neoclassical economics has contributed to strengthen the legitimacy of neo-liberalism). Various aspects of inertia and flexibility in institutional change processes, such as path dependence, are discussed. Emphasis is on the role of economics and how a strengthened democracy can open the door for a degree of pluralism.

Place, publisher, year, edition, pages
Basel: MDPI AG , 2014. no 6, p. 2755-2765
National Category
Social Sciences Economics
Research subject
Industrial Economics and Organisations
Identifiers
URN: urn:nbn:se:mdh:diva-24991DOI: 10.3390/su6052755ISI: 000337160800020Scopus ID: 2-s2.0-84902997594OAI: oai:DiVA.org:mdh-24991DiVA, id: diva2:717531
Projects
Economics for sustainable developmentAvailable from: 2014-05-15 Created: 2014-05-15 Last updated: 2017-12-05Bibliographically approved

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Publisher's full textScopushttp://www.mdpi.com/2071-1050/6/5/2755

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Söderbaum, Peter

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