Ethical underpinnings for the economy of the Anthropocene: Sustainability ethics as key to a sustainable economy

Christian U. Becker

Ecological Economics, 2023, vol. 211, issue C

Abstract: This conceptual paper emphasizes the need for considering ethical aspects in developing a sustainable economy that meets the challenges of the historic overuse of the planet in the Anthropocene. The paper argues that a sustainable economy is, at its core, an ethical challenge and requires a new ethical underpinning which considers the ethical dimension of sustainability and insights from sustainability ethics. The tradition of Western economic thought, and specifically the modern conception of the capitalist market economy, are based on rather narrow ethical foundations which are not sufficient to support a sustainable economy. Traditional economic conceptions have mostly focused on the wellbeing of current individuals and societies. There have been no broader systematic economic conceptions that fully integrate the wellbeing of nature, other species, and future beings. A sustainable economy requires a significantly expanded and redefined ethical underpinning that integrates two aspects: First, a broader ethical foundation that systematically considers nature, non-human beings, future beings, and people around the world. Second, a re-definition of individual wellbeing and societal welfare beyond rational utility maximization, efficiency, and growth.

Keywords: Anthropocene; Ethics; Philosophy of economics; Sustainable economy; Sustainability ethics (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolec:v:211:y:2023:i:c:s0921800923001313

DOI: 10.1016/j.ecolecon.2023.107868

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