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Markets in the light of political economic actors and democracy: Reconsidering conceptual framework for sustainability politics
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: Global Journal of Human-Social Science: Political Science, ISSN 2249-460X, Vol. 14, no 2, 6-16 p.Article in journal (Refereed) Published
Abstract [en]

The conceptual framework of neoclassical economics has been quite stable over the years while present challenges point in the direction of a need for new thinking and a new conceptual framework. Neoclassical economics is more or less blind to equality issues and not enough to deal constructively with present unsustainable trends. I will suggest important elements of such a new conceptual framework as part of a pluralistic understanding of economics.

When compared with neoclassical economics, the political dimension is emphasized thus making democracy a fundamental principle for relationships in markets and society at large. A political economics is suggested where individuals are understood as political economic persons and organizations as political economic organizations. This leads to a different understanding of markets from that of supply and demand. The ethics and responsibilities of market actors in a democratic society is considered relevant and something to be investigated for purposes of sustainability politics. Approaches to decision-making are also discussed. Emphasis on democracy suggests a different approach from that of neoclassical Cost-Benefit Analysis (CBA)

Place, publisher, year, edition, pages
Global Journals Inc. , 2014. Vol. 14, no 2, 6-16 p.
Keyword [en]
political economy, political economic person, political economic organization, ideological orientation, mission, market models, positional analysis (PA), sustainability politics
National Category
Social Sciences
Research subject
Industrial Economics and Organisations
Identifiers
URN: urn:nbn:se:mdh:diva-26144OAI: oai:DiVA.org:mdh-26144DiVA: diva2:757225
Projects
national- och företagsekonomi för hållbar utveckling
Available from: 2014-10-21 Created: 2014-10-21 Last updated: 2016-12-27Bibliographically approved

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http://socialscienceresearch.org/index.php/GJHSS/article/view/1126/1068

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CiteExportLink to record
Permanent link

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Cite
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