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The Paradox of Resilience and Efficiency

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  • Irene van Staveren

Abstract

Resilience and efficiency tend to be regarded as trade-offs. Is it possible to have more resilience in a capitalist economy? By referring to the literature on resilience in ecology and the study of the commons, I suggest that we can learn how to build more resilience without having to give up on efficiency. The key to this is cooperation instead of competition and a long-term understanding of efficiency. The history of economic thought provides clues to the role of institutions for combining resilience with efficiency, but also shows that this can only be done in the community economy and outside capitalism.

Suggested Citation

  • Irene van Staveren, 2023. "The Paradox of Resilience and Efficiency," Journal of Economic Issues, Taylor & Francis Journals, vol. 57(3), pages 808-813, July.
    • Handle: RePEc:mes:jeciss:v:57:y:2023:i:3:p:808-813
    DOI: 10.1080/00213624.2023.2237861
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