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Very exciting discussion and very exposing! Thank you for making this discussion possible @PluralEcon!
Anna's question about climate change mitigation in particular was spot on! Some thoughts on this
@BachmannRudi @PeterBofinger @ForumNewEconomy
#MankiwRevisited /Thread (1/11)
Anna's question about climate change mitigation in particular was spot on! Some thoughts on this
@BachmannRudi @PeterBofinger @ForumNewEconomy
#MankiwRevisited /Thread (1/11)
Climate change has been known for more than 40 years. Economic theories and recommendations have failed to curb climate change. Why concepts fail in real life, what learning effects the economic sciences have + include in research and education is not sufficiently explored(2/11)
The current economic system is not only socially unfair, it is also damaging the environment and the planet in unprecedented ways. We would need four more planets in reserve if we wanted to maintain the current lifestyle. We know it but have changed too little. (3/11)
Environmental economics base on "homo economicus" concept, favoring exclusive "market-based approaches" such as a global CO2 price, a global emissions trading system, as the exclusive solution and ignoring all else. Social effects are ignored.The strongest are always right (4/11)
The economy is at a turning point, as are the economic sciences. Outdated and backward-looking theories are still in use. This prevents us from doing justice to the complexity of today's crises and from finding appropriate answers to the climate crisis. (5/11)
The predominant narrative "first the economy, then the environment" is a result of such a narrow approach. This negates, for example, the economic risks of the fossil economy and it misjudges the economic opportunities of an ecological and social transformation. (6/11)
But not only the economy itself, also the economic sciences are at a turning point. Due to strong formalization and mathematization, it has become more and more distant from real processes in the last decades. What lies outside pure economic logic has been lost from focus. (7/11)
Economists need to do: 1. critical self-reflection, 2. questioning previous paradigms of thinking 3. an analysis of why economists have failed in preventing climate change. Any economic teaching should deal with sustainability, climate protection + pluralistic approaches. (8/11)
Such discourses are not new in economics, but mainly ignored, ridiculed, kept to a minimum or even excluded by the established economic sciences. Criticism of this - and of the underlying conception - is growing louder and louder. New important "plural economics" discourse (9/11)
We are at a turning point: with @sciforfuture + @econ4future_DE research on transformation of economy. In the best sense, democracy is strengthened, scientific discussions are initiated and new approaches are pursued in theory and practice. (10/11)
@exploringecon
@exploringecon
Research and knowledge transfer is a joint effort that we must not leave to privileged elites, but must provide as a democratic diversity.The time for change is here. Also and especially for economics. Theses discussions provide an important impetus for this. Overdue.
(11/11)
(11/11)