Re-embedding the economy in nature and society: Seven theses on the socio-ecological reorientation of the economy in times of Covid-19 and the climate crisis

Reinhard Loske

No 62, Working Paper Serie des Instituts für Ökonomie from Hochschule für Gesellschaftsgestaltung (HfGG), Institut für Ökonomie

Abstract: This paper reflects on the links between the current COVID-19-crisis and the climate and biodiversity crises. It argues that the present pandemic and nonsustainable development on a global scale have similar roots: from ignoring natural boundaries to denying scientific facts, from over-globalisation to a one-sided economic understanding of public services, from a systematic undervaluation of caring activities to consumerism and growth-fetishism. As result our societies became less resilient and more vulnerable over the last decades. Various policy proposals to overcome these undesirable developments are presented in the paper, including selective de-globalisation, regionalization, circular economy, global fairness, the strengthening of public goods and a strategy of democracydriven "glocalisation".

Keywords: COVID-19-crisis; climate and biodiversity crises; common roots; re-embedding the economy in nature and society; global fairness; "glocalisation" (search for similar items in EconPapers)
JEL-codes: B52 B59 D62 F02 F41 F55 F60 G38 Q01 Q57 Q58 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-agr, nep-env and nep-hme
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:cuswps:62

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