Review of Economic Philosophy

Tag: Sustainable development

  • Envisaging a Socially Sustainable Development

    Abstract

    Economic literature shows a continuing interest in issues involving sustainable development, but rarely examines the social pillar, instead focusing on the interconnectedness of the economic and environmental pillars. When the social pillar is taken into account, its role is to facilitate this interconnectedness as an interface. With one voice, economic analyses make it clear that its connection to the other two pillars is important in terms of people’s living conditions and the social acceptance of change in our journey towards ecological transition. Nonetheless, in studies devoted to sustainable development, the social pillar remains nothing more than an interface, and hence a place will have to be prepared for it in economic policies for sustainable development. To this end, we will have to return to a conceptualisation of the social pillar which embraces the origins of sustainable development. This in turn will offer new opportunities for public policies which have previously been viewed as unconnected to sustainable development.

    Keywords

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    [See the article in Cairn]

  • “The Taste Approach.” Governance beyond Libertarian Paternalism

    Abstract

    Well-being can be promoted in two ways. Firstly, by affecting the quantity, quality and allocation of bundles of consumption (the Resource Approach), and secondly, by influencing how people benefit from their goods (the Taste Approach). Whereas the former is considered an ingredient of economic analysis, the latter has conventionally not been included in that field. By identifying the gain the Taste Approach might yield, the article questions whether this asymmetry is justified. If successfully exercised, the Taste Approach might not only enable people to raise their well-being, but also provide solutions to a number of issues such as sustainable development and global justice.
    The author argues that recently developed accounts such as Happiness Economics (HE) and Libertarian Paternalism (LP) both can be considered specifications of the Taste Approach. Furthermore a third specification is identified: Inexpensive Preference Formation (IPF). Whereas LP suggests that choice architecture should be exercised when rationality fails, IPF holds that governance in certain instances should improve choices also in absence of no such failure.

    JEL Classification: B40, D63, I30

    Keywords

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  • A new style of development to deal with the current crisis: solidarity-based economy, collective capability and sustainable human development

    Abstract

    To avoid a worsening of the current economic crisis, and to prevent future crises related to ecological constraints and social imbalances, there is a need to change the decision-making processes and related power structures, in order to envisage a new style of development. Indeed, three constituents of such a style are already in place. Firstly, the theoretical approach looks at the capabilities of people, at their freedom to choose what they value, and at their agency. Second, in operational terms, a solidarity-based economy regularly invents relevant solutions for overcoming changing social and ecological issues by means of a defined set of values: responsibility, equity and recognition, and the way people interact and behave. Third, sustainable development provides a global conceptual framework through its human dimension (i.e. the reinforcement of personal capabilities), and its social dimension (intra- and intergenerational equity, poverty and inequality traps, vulnerability and social exclusion). This paper sets out to show how these three constituents interact to generate a new style of development, which could influence the future design of public policies.

    JEL Classification: A13, O15, P 46

    Keywords

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    Outline

    • Introduction
    • The solidarity-based economy as a social experiment
      • A mirror for new ways of behaving and interacting
      • Extending ethical references
      • Freedom and responsibility
      • Equality and fairness
      • Solidarity and recognition
    • The capability approach as a theoretical foundation
      • The Basis and Insights of the Capability Approach
      • An extension of responsibility and collective action
    • Sustainable human development as a conceptual framework
      • The social dimension of sustainable development
      • Social vs. societal
      • Ensuring the social sustainability of public policies
      • Back to the human development framework
    • Conclusion