Ten principles for transforming economics in a time of global crises

Jasper O. Kenter (), Simone Martino, Sam J. Buckton, Sandra Waddock, Bina Agarwal, Annela Anger-Kraavi, Robert Costanza, Adam P. Hejnowicz, Peter Jones, Jordan O. Lafayette, Jane Kabubo-Mariara, Nibedita Mukherjee, Kate E. Pickett, Chris Riedy and Steve Waddell
Additional contact information
Jasper O. Kenter: Aberystwyth University
Simone Martino: University of York
Sam J. Buckton: University of York
Sandra Waddock: Boston College
Bina Agarwal: University of Manchester
Annela Anger-Kraavi: University of Cambridge
Robert Costanza: University College London
Adam P. Hejnowicz: University of York
Peter Jones: Tecnológico de Monterrey
Jordan O. Lafayette: Ecologos Research Ltd
Jane Kabubo-Mariara: Partnership for Economic Policy
Nibedita Mukherjee: Brunel University London
Kate E. Pickett: University of York
Chris Riedy: University of Technology Sydney
Steve Waddell: Bounce Beyond

Nature Sustainability, 2025, vol. 8, issue 7, 837-847

Abstract: Abstract Transformation of economic systems is widely regarded as essential for tackling interacting global crises. Unconventional economic approaches seeking holistic human and planetary well-being have transformative potential, but mainstreaming them is hampered by vested interests and intellectual lock-ins. They are also diffuse and struggle to develop sufficient discursive power to gain more widespread traction in policy. To bring coherence, we undertake a qualitative content analysis of 238 document sources from science and practice. We identify ten ecological, social, political economy and holistic principles cutting across 38 economic approaches. They include: (1) social–ecological embeddedness and holistic well-being; (2) interdisciplinarity and complexity thinking; (3) limits to growth; (4) limited substitutability of natural capital; (5) regenerative design; (6) holistic perspectives of people and values; (7) equity, equality and justice; (8) relationality and social enfranchisement; (9) participation, deliberation and cooperation and (10) post-capitalism and decolonization. We also consider opportunities and barriers to applying these principles in the context of global crises. Our results can help consolidate transformative economic approaches and support future efforts to synthesize conceptual models, methodologies and policy solutions and to validate the identified principles more explicitly within global south contexts.

Date: 2025
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DOI: 10.1038/s41893-025-01562-4

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