Title: Post-Keynesian economics and sustainable development
Authors: Richard P.F. Holt
Addresses: Economics Department, Southern Oregon University, Ashland, OR 97520, USA
Abstract: This paper looks at the relationship between sustainable development and economics. Neoclassical economics with its current methodological approach is not well suited to understand or analyse the problem of sustainable development. Post-Keynesian economics – with its focus on macro and policy outcomes, the role of institutions, uncertainty, historical time, and its criticism of gross substitution and ergodicity – has elements within its methodology that makes it better suited to incorporate sustainability into its analysis than neoclassical economics.
Keywords: sustainable development; neoclassical economics; post-Keynesian economics; ergodicity; environmental economics; ecological economics.
International Journal of Environment, Workplace and Employment, 2005 Vol.1 No.2, pp.174 - 186
Published online: 02 Mar 2005 *Full-text access for editors Access for subscribers Purchase this article Comment on this article