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Green Economics: setting the scene. Aims, context, and philosophical underpinning of the distinctive new solutions offered by Green Economics

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  • Miriam Kennet
  • Volker Heinemann

Abstract

Green Economics positions economics within a very long-term, earth-wide, holistic context of reality as a part of nature. It also incorporates and celebrates 'difference', diversity, equity and inclusiveness within its concepts of society and community. Its philosophy is to manage economics for nature as usual, rather than to manage the environment for business as usual. The paper introduces the new Green Economics discipline and reviews its shape and philosophical underpinnings. By combining economics with knowledge from the natural sciences, we argue that Green Economics can incorporate a much wider, more practical, multidisciplinary range of knowledge than other schools of economics. The paper suggests how Green Economics can offer unique insights into four of the key areas ('eco', intellectual, political and moral) of today's significant and mounting problems and highlights how its novel insights provide new solutions. The development of this new branch of Economics is justified in this text by reviewing the main contradictions, deficiencies, assumptions, conventions, and inherent normative concepts to be found in dominant neo-classical economic thinking, which have accumulated over the past two centuries.

Suggested Citation

  • Miriam Kennet & Volker Heinemann, 2006. "Green Economics: setting the scene. Aims, context, and philosophical underpinning of the distinctive new solutions offered by Green Economics," International Journal of Green Economics, Inderscience Enterprises Ltd, vol. 1(1/2), pages 68-102.
    • Handle: RePEc:ids:ijgrec:v:1:y:2006:i:1/2:p:68-102
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    References listed on IDEAS

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    2. Delyse Springett & Barry Foster, 2005. "Whom is sustainable development for ? Deliberative democracy and the role of unions," Sustainable Development, John Wiley & Sons, Ltd., vol. 13(5), pages 271-281.
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    1. Zhao, Xin & Mahendru, Mandeep & Ma, Xiaowei & Rao, Amar & Shang, Yuping, 2022. "Impacts of environmental regulations on green economic growth in China: New guidelines regarding renewable energy and energy efficiency," Renewable Energy, Elsevier, vol. 187(C), pages 728-742.
    2. Tetiana Melnyk & Nataliia Reznikova & Oksana Ivashchenko, 2020. "Problems Of Statistical Study Of “Green Economics” And Green Growth Potentials In The Sustainable Development Context," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 6(3).
    3. Evi Susanti Tasri & Syafruddin Karimi, 2014. "Green economy as an environment-based framework for Indonesia's economic reposition structure," Economic Journal of Emerging Markets, Universitas Islam Indonesia, vol. 6(1), pages 13-22, April.
    4. Irina Golova & Alla Sukhovey, 2019. "'Green economy' as a strategy of modernization of older industrial areas in the Urals," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 5(4), pages 168-175.
    5. Hao Liu & Weilun Huang, 2022. "Sustainable Financing and Financial Risk Management of Financial Institutions—Case Study on Chinese Banks," Sustainability, MDPI, vol. 14(15), pages 1-18, August.
    6. Jack Reardon, 2007. "Comments on 'Green economics: setting the scene. Aims, context, and philosophical underpinnings of the distinctive new solutions offered by green economics'," International Journal of Green Economics, Inderscience Enterprises Ltd, vol. 1(3/4), pages 532-538.
    7. Yao-Tsung Ko, 2020. "Modeling an Innovative Green Design Method for Sustainable Products," Sustainability, MDPI, vol. 12(8), pages 1-23, April.
    8. Viktorija Pceļina & Olga Lavrinenko & Alina Danileviča, 2023. "Disproportions of the green economy in the selected countries," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 11(1), pages 293-305, September.

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