Ecological Macroeconomics: Introduction and Review

Publikation: Wissenschaftliche FachzeitschriftOriginalbeitrag in FachzeitschriftBegutachtung

19 Downloads (Pure)

Abstract

The Great Recession of the past years has brought macroeconomics back. Many of the recession's phenomena, causes and consequences alike, cannot be understood using solely microeconomic decision-making. Over the past decades the economics profession has pursued the implications of rational choices and enshrined them in so-called micro-foundations as a hallmark of modern economic theory. By focusing on the choices and actions of individual consumers, firms, or the government, however, one can easily miss important determinants of the economic system which only arise at the meso- or the macroeconomic levels where institutions, coordination, and complexity in general are important and sometimes even can take on a life of their own. To lesser extent, ecological economics has fallen prone to similar pitfalls by mostly focusing the unit of investigation on low-level, small-scale subsystems of the economy. There are, of course, notable exceptions including the early contributors Boulding and Georgescu-Roegen and the general interest of ecological economists in the field of (ecological) macroeconomics has been increasing.
OriginalspracheEnglisch
Seiten (von - bis)181 - 185
FachzeitschriftEcological Economics
Jahrgang121
DOIs
PublikationsstatusVeröffentlicht - 2016

Bibliographische Notiz

Aktualisierte Version

Österreichische Systematik der Wissenschaftszweige (ÖFOS)

  • 502042 Umweltökonomie
  • 502027 Politische Ökonomie
  • 502046 Volkswirtschaftspolitik
  • 502047 Volkswirtschaftstheorie

Schlagwörter

  • INEQ Ecological Inquality

Dieses zitieren