Towards an Integrated Paradigm in Heterodox Economics : Alternative Approaches to the Current Eco-Social Crises

The human imprint on the biosphere has become so pronounced in recent years that there has been talk of a new geological era, the 'Anthropocene'. Gathering contributions from some of the world's foremost heterodox economists, this book explores the new economic directions and paradigms that are required to respond to this crisis. Front Matter....Pages i-xvi Introduction....Pages 1-25 Towards the Integration of Social, Economic and Ecological Knowledge....Pages 26-46 The Fog of Economics....Pages 47-63 New Narratives for Sustainability: The Red Pill for Economists....Pages 64-93 Social Metabolism, Environmental Cost-Shifting and Valuation Languages....Pages 94-110 Meanings and Significance of Property with Reference to Today’s Three Major Eco-Institutional Crises....Pages 111-126 An Institutional and Evolutionary Critique of Natural Capital....Pages 127-146 From Utilitarianism to Evolution in Ecological Economics....Pages 147-163 Economics: The Dismal Science?....Pages 164-175 Moving From a Failed Growth Economy to a Steady-State Economy....Pages 176-189 Global Poverty and Financial Crisis: Are We Trapped in an Obsolete Economic Order?....Pages 190-207 Back Matter....Pages 208-235 Since the thermo-industrial revolution the human imprint on the Biosphere has become so important that some scientists speak of a new geological era, the 'Anthropocene.' The current financial, social and energy crises need tobe understood in this irreversible context, and require a new kind of economic thinking. Conventional theory and practice has failed to take account of the scale and significance of this unparalleled historical situation. This book examines the rich intellectual traditions of heterodox economics - particularly ecological and critical institutional economics - toprovide guidelines for an alternative paradigm for thisnew age. The authors develop key integrative concepts such as social metabolism, value pluralism, evolution and community, gathering together some of the world's foremost heterodox economists