Integrating “Neoliberal-Turn” and “Social-Turn” Constructs in Examining Sustainable Development and Happiness and Life Satisfaction: A Global-, Country Cluster-, and Country-Level Study

Arman Canatay, Leonel Prieto () and Muhammad Ruhul Amin
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Arman Canatay: A.R. Sanchez, Jr. School of Business, Texas A&M International University, Laredo, TX 78041, USA
Leonel Prieto: A.R. Sanchez, Jr. School of Business, Texas A&M International University, Laredo, TX 78041, USA
Muhammad Ruhul Amin: A.R. Sanchez, Jr. School of Business, Texas A&M International University, Laredo, TX 78041, USA

Sustainability, 2023, vol. 15, issue 13, 1-56

Abstract: This study explores several global and country cluster sustainable development (herein SD) models. It jointly examines constructs from the “Neoliberal-turn” ((e.g., Institutional Enhancers (e.g., business freedom, property rights, government integrity, and judicial effectiveness), Financial Enhancers (e.g., government spending and monetary, trade, investment, and financial freedoms), Foreign Direct Investment, Global Competitiveness-institutions, and Global Competitiveness-innovation-sophistication)), the “Social-turn” (five SD pillars (e.g., Planet, People, Peace, Prosperity, and Resources), which synthesize the 17 United Nations SD goals), and Happiness and Life Satisfaction (herein H&LS). This study examines a large and diverse set of relationships encompassing 11 years of data of 108 social, economic, and environmental indicators from 125 countries at the global, country cluster, and country levels. We analyze data using structural equation modeling. Remarkably, Planet, an SD pillar constituted by biophysical variables, is the least of the five SD pillars positively related to the “neoliberal-turn” constructs and H&LS. The results show model configurations and scale effects. Furthermore, the findings reveal both synergies between neoliberal and the five SD pillars, as well as both negative and nonsignificant relationships among them. The diversity of the results calls for further model integration and specificity. The diverse findings entail caution and difficulties in generalizing knowledge. Similarly, the results suggest that it is not advisable, since there may be many different and partly legitimate alternatives, to rely on just one perspective (e.g., giving primacy to economic-based analyses) and/or in analyses at only one scale. The perspective effects and the stakes involved in SD urgently call for more collaborative efforts at all levels.

Keywords: social turn models; sustainable development pillars; neoliberal turn constructs; model configurations; collaborative perspective; global; cluster; country-level analyses (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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