Time for a Paradigm Shift: From Economic Growth and Price-Making Markets to Social Ecological Economics

Clive Spash

SRE-Disc from Institute for Multilevel Governance and Development, Department of Socioeconomics, Vienna University of Economics and Business

Abstract: Ecological economics has ontological foundations that inform it as a paradigm both biophysically and socially. It stands in strong opposition to mainstream thought on the operations of the economy and society. The core arguments deconstruct and oppose both growth and price-making market paradigms. However, in contradiction of these theoretical foundations, ecological economists can be found who call upon neoclassical economic theory as insightful, price-making and capitalist markets as socially justified means of allocation and economic growth as achieving progress and development. The more radical steady-state and post-growth/degrowth movements are shown to include confused and conflicted stances in relation to the mainstream hegemonic paradigms. Ecological economics personally challenges those trained in mainstream theory to move beyond their orthodox education and leave behind the flawed theories and concepts that contribute to supporting systems that create social, ecological and economic crises. This paper makes explicit the paradigmatic struggle of the past thirty years and the need to wipe away mainstream apologetics, pragmatic conformity and ill-conceived postmodern pluralism. It details the core paradigmatic conflict and specifies the alternative social ecological economic paradigm along with a new research agenda.

Keywords: Paradigm shift; Economic growth; Markets, Price, Value theory, Social ecological economics, Steady-state economics, Degrowth, Post-Growth, Capitalism, Neoclassical economics, Socialism (search for similar items in EconPapers)
JEL-codes: A11 A12 A13 A14 B29 B50 D40 D46 D62 O44 P1 P16 P2 P28 Q56 Q57 (search for similar items in EconPapers)
Pages: 54 pages
Date: 2019
New Economics Papers: this item is included in nep-env, nep-hpe and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www-sre.wu.ac.at/sre-disc/sre-disc-2019_07.pdf (application/pdf)

Related works:
Working Paper: Time for a Paradigm Shift: From Economic Growth andPrice-Making Markets to Social Ecological Economics (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wiw:wiwsre:sre-disc-2019_07

Access Statistics for this paper

More papers in SRE-Disc from Institute for Multilevel Governance and Development, Department of Socioeconomics, Vienna University of Economics and Business Welthandelsplatz 1, 1020 Vienna, Austria.
Bibliographic data for series maintained by Gunther Maier ().