 Financialization of Life and Ecological Transition amid Growing Inequality and RiskFaruk Ülgen ()
Post-Print from HAL Abstract: This article argues that the compulsory economic and ecological transformation of our societies for a sustainable and more equitable world requires appropriate institutional environment and regulation according to the global goal of dealing with growing inequalities and risks. Over the last few decades, the free-market ideology has transformed capitalism into a financialized speculative rent machine, and increased economic fragility and inequality. To date, humanity faces growing environmental concerns and must fight against economic, social and political instabilities. However, research on alternative ways of transforming societies into more livable communities under the burden of climate financing suffers from a lack of appropriate economic and social governance. Achieving society-wide sustainable development goals requires us to rethink our approaches to climate change and transition financing. Climate catastrophes, mostly connected to our way of organizing and managing life on Earth, generate huge systemic risks for economies and people. An alternative way of governing our essential public good, life, is to find out solutions to mitigate harms and adapt economies to this fundamental equation. Our long-lasting issues, -environmental and resource depletion, poverty and inequality, socio-political instabilities, etc.- should be treated within the process of global change: the eco-transition. Dealing with inequalities in the face of growing economic and environmental risks, improving living conditions of citizens and making life affordable for everyone require a global governance of transition. The article then points to necessary institutional reforms that call for innovative approaches to frame our collective goals and to finance the global process of change. Global financial governance and eco-transition should be framed to fostering transformation of markets and institutions to achieve worldwide sustainable development through the provision of two global public goods -financial stability and sustainability (FSS) and economic/ecological sustainability (EES)- both sine qua non for a viable and fairer world. Keywords: Ecological economics; Government policy and regulation (search for similar items in EconPapers) Published in ASSA 2025 Annual Meeting, American economic association; Allied social science associations; Association for Social Economics, Jan 2025, San Francisco, United States There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04947656 Access Statistics for this paper More papers in Post-Print from HAL |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.