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Non-Market Coordination: Towards an Ecological Response to Austrian Economics

Author

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  • Dan Greenwood

Abstract

Although the ecological tradition tends to favour a substantive role for non-market institutions in securing objectives such as environmental sustainability, Green theorists have paid relatively little attention to the important challenge posed to such proposals by the pro-market arguments of Austrian economics. The methods of ecological economics, such as multiple criteria evaluation, offer important potential for responding to the Austrian thesis that democratic, non-market institutions face a coordination problem in the face of complexity. However, the development of an adequate ecological response to the Austrians requires clarification of the conceptual underpinnings and potential scope of such methods.

Suggested Citation

  • Dan Greenwood, 2008. "Non-Market Coordination: Towards an Ecological Response to Austrian Economics," Environmental Values, White Horse Press, vol. 17(4), pages 521-541, November.
  • Handle: RePEc:env:journl:ev17:ev1728
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    Cited by:

    1. Elena Bianca Vieru, 2012. "The Ecologist Spirit Underneath Austrian Economist Clothes," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 236-242, December.

    More about this item

    Keywords

    Valuation; markets; commensurability; multiple criteria analysis; complexity;

    JEL classification:

    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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