Key statements

The network Sustainable Economics is still in progress. The theory develops from general economic hypothesis and Sustainable Science (especially from the Ecological Economics) and is defined as: the economical theory of sustainable development under consideration of inter- and transdisciplinary fundamentals. Starting point and basis for discussion within the network are the key statements, which have the purpose to prevent arbitrariness. The aim, based on the following core statements, is to reform the traditional and predominant economic theory.

Sustainbale Economics – 10 core statements:

  1. Strong Sustainability

  2. Pluralistic approach; differentiation by including several aspects from the neoclassical environmental economics

  3. Progression of the traditional and ecological economic theory

  4. Controversies within the network – economic growth debate

  5. The Sustainable Development and Economics are based on ethical principles that demand individual responsibility and actions – short: Ethical Principles

  6. Inter- and transdisciplinary approach

  7. Necessity to change the economic system with political legal instruments

  8. Necessity to operationalize the concept of sustainability and introduce new measuring systems

  9. Global responsibility

  10. Sustainable (socio ecological) market or mixed economy

 

For more information you can download the key messages here.

Sustainable Economics

Time for a new economic perceptive!
In the previous 250 years, the center of economy (in business as well as in the dominant economic theory and teaching method) was the maximum increase of profits and production of goods. The evident market failure in the three dimensions of sustainable development (environmental, economic and social-cultural) has been excluded or systematically underestimated. In spite of the global problems in the 21st century (such as climate change, over-exploitation of natural resources, poverty and distributive injustice), these short-term oriented economy must change into a long-term oriented economy: taking into consideration the limits of natural capacity and the principles of justice. We call such an economy ´Sustainable Economics´.

The majority of mainstream economists (including environmental economists) can not sufficiently contribute to a durable economy due to their paradigms and dogmas. Sustainable Economics is based on the outcomes of Ecological Economics. So far, the Ecological Economics has focused its research fields on the question of how the boundaries of natural capacity can be met. The Sustainable Economics goes beyond the ecological dimension and includes in its research activities the economical and socio-cultural dimension. The main focus of analysis is: how adequate high economical, socio-cultural and ecological standards can be achieved within the natural capacity, to enforce intra- and intergenerational justice. In this respect, the Sustainable Economics is a consistent further development of Ecological Economics.

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