Reconsidering economics in relation to sustainable development and democracy

The challenge of sustainable development can be approached from different angles. In this essay it is argued that one also needs to examine the present close to monopoly position of neoclassical economic theory at university departments of economics in many parts of the world. An open debate is need...

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Autor principal:	Peter Söderbaum
Formato:	article
Lenguaje:	DE EN FR
Publicado:	Editura ASE Bucuresti 2019
Materias:	neoclassical economics institutional economics political economic person political economic organization ideological orientation mission multidimensional matching process technocracy democracy narrative degrowth Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/17129f9824d24a8ba0d72e1f1e716dff
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id	oai:doaj.org-article:17129f9824d24a8ba0d72e1f1e716dff
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spelling	oai:doaj.org-article:17129f9824d24a8ba0d72e1f1e716dff2021-12-02T10:47:44ZReconsidering economics in relation to sustainable development and democracy1843-22981844-8208https://doaj.org/article/17129f9824d24a8ba0d72e1f1e716dff2019-11-01T00:00:00Z https://jpe.ro/pdf.php?id=8544 https://doaj.org/toc/1843-2298https://doaj.org/toc/1844-8208The challenge of sustainable development can be approached from different angles. In this essay it is argued that one also needs to examine the present close to monopoly position of neoclassical economic theory at university departments of economics in many parts of the world. An open debate is needed about paradigms in economics as well as ideological orientations. An alternative to neoclassical theory is outlined where individuals and organizations are regarded as political actors, each guided by an ideological orientation or mission. Reference is made to the 17 UN sustainable development goals suggesting that impacts need to be seen in multidimensional terms and an alternative definition of economics as “multidimensional management of limited resources in a democratic society” is proposed. It is argued that economics need to move away from its technocracy-oriented tendencies to democracy-oriented approaches. This is exemplified by a move away from neoclassical Cost-Benefit Analysis (CBA) to Positional Analysis as approach to decision-making and sustainability assessment.Peter SöderbaumEditura ASE Bucurestiarticleneoclassical economicsinstitutional economicspolitical economic personpolitical economic organizationideological orientationmissionmultidimensionalmatching processtechnocracydemocracynarrativedegrowthEconomics as a scienceHB71-74DEENFRJournal of Philosophical Economics, Vol XIII, Iss 1, Pp 19-38 (2019)
institution	DOAJ
collection	DOAJ
language	DE EN FR
topic	neoclassical economics institutional economics political economic person political economic organization ideological orientation mission multidimensional matching process technocracy democracy narrative degrowth Economics as a science HB71-74
spellingShingle	neoclassical economics institutional economics political economic person political economic organization ideological orientation mission multidimensional matching process technocracy democracy narrative degrowth Economics as a science HB71-74 Peter Söderbaum Reconsidering economics in relation to sustainable development and democracy
description	The challenge of sustainable development can be approached from different angles. In this essay it is argued that one also needs to examine the present close to monopoly position of neoclassical economic theory at university departments of economics in many parts of the world. An open debate is needed about paradigms in economics as well as ideological orientations. An alternative to neoclassical theory is outlined where individuals and organizations are regarded as political actors, each guided by an ideological orientation or mission. Reference is made to the 17 UN sustainable development goals suggesting that impacts need to be seen in multidimensional terms and an alternative definition of economics as “multidimensional management of limited resources in a democratic society” is proposed. It is argued that economics need to move away from its technocracy-oriented tendencies to democracy-oriented approaches. This is exemplified by a move away from neoclassical Cost-Benefit Analysis (CBA) to Positional Analysis as approach to decision-making and sustainability assessment.
format	article
author	Peter Söderbaum
author_facet	Peter Söderbaum
author_sort	Peter Söderbaum
title	Reconsidering economics in relation to sustainable development and democracy
title_short	Reconsidering economics in relation to sustainable development and democracy
title_full	Reconsidering economics in relation to sustainable development and democracy
title_fullStr	Reconsidering economics in relation to sustainable development and democracy
title_full_unstemmed	Reconsidering economics in relation to sustainable development and democracy
title_sort	reconsidering economics in relation to sustainable development and democracy
publisher	Editura ASE Bucuresti
publishDate	2019
url	https://doaj.org/article/17129f9824d24a8ba0d72e1f1e716dff
work_keys_str_mv	AT petersoderbaum reconsideringeconomicsinrelationtosustainabledevelopmentanddemocracy
_version_	1718396692572667904

Reconsidering economics in relation to sustainable development and democracy

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