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Political Economy, Capitalism and Sustainable Development

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  • George Liodakis

    () (Department of Sciences, Technical University of Crete, 73100 Chania, Greece)

Abstract

After a critical review of conventional approaches to sustainability, this paper contrasts orthodox (neoclassical) economic theory with a political economy approach, arguing that such an approach focusing on the historically specific organizational form of production and the inherent characteristics of the capitalist mode of production is crucial for exploring the preconditions, the content and the prospects of sustainability. Analyzing briefly these characteristics and the developmental trends of capitalism, we locate the basic causes behind the currently exacerbated economic and ecological crisis, and on these grounds we briefly explore the required systemic transformations necessary to ensure a socially and ecologically, truly sustainable development.

Suggested Citation

  • George Liodakis, 2010. "Political Economy, Capitalism and Sustainable Development," Sustainability, MDPI, Open Access Journal, vol. 2(8), pages 1-16, August.
  • Handle: RePEc:gam:jsusta:v:2:y:2010:i:8:p:2601-2616:d:9311
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    References listed on IDEAS

    as
    1. Røpke, Inge, 2009. "Theories of practice -- New inspiration for ecological economic studies on consumption," Ecological Economics, Elsevier, vol. 68(10), pages 2490-2497, August.
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    More about this item

    Keywords

    political economy; Marxist theory; capitalism; sustainability conditions; sustainable development;

    JEL classification:

    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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