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Abundance Economics For Social Sustainability Macroeconomic And Transdisciplinary Analysis Models For Local And Global Policy Perspectives

Author

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  • Konrad Gunesch

    (American University in the Emirates, College of Media and Mass Communication, Dubai, United Arab Emirates)

Abstract

Abundance Economics, also called post-scarcity economics, increasingly attracts attention in macroeconomic research as well as in policy practice, with its relevance predicted to be ever growing. After a historical overview, this article traces that research attention, shows the need and motivation for this investigation, and then predefines and differentiates the concept. Conceptually, abundance and post-scarcity economics is discussed within the frameworks of heterodox and postKeynesian economics, before examining how writings on abundance economics confront and overcome the scarcity paradigm within economics. Hence the first conceptual contribution of this research is the systematization of abundance economics within classical, heterodox and postKeynesian economics in a concise yet comprehensive form that does not yet exist in macroeconomic literature. The second conceptual contribution is the investigation of abundance economics as a macroeconomic paradigm shift, together with this paradigm shifts pragmatic advantages in todays world. The third conceptual contribution is the precise definition, itemization and scrutiny of abundance economics within the global macroeconomic system, in a form also not yet existing in the literature. Methodologically, this research evaluates a range of suggested disciplines contributing to, and benefitting from abundance economics, before studying the arguments for their use and introducing its own multidisciplinary approach. Hence its methodological contribution is the consideration, combination and practical application of a coherent multidisciplinary framework for evaluating the macroeconomic potential of abundance economics in 21st century scenarios. Its final and overall contribution is the synthesis, analysis and discussion of eight distinct yet relatable solutions for conceiving and using abundance economics in economic, social, political, ecological and cultural sustainability reflections and recommendations for local practice and global policy.

Suggested Citation

  • Konrad Gunesch, "undated". "Abundance Economics For Social Sustainability Macroeconomic And Transdisciplinary Analysis Models For Local And Global Policy Perspectives," Review of Socio - Economic Perspectives 201936, Reviewsep.
    • Handle: RePEc:aly:journl:201936
    DOI: https://doi.org/10.19275/RSEP061
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    References listed on IDEAS

    as
    1. Brendan Sheehan, 2010. "The Economics of Abundance," Books, Edward Elgar Publishing, number 3323.
    2. Andrew Mearman, 2011. "Who Do Heterodox Economists Think They Are?," American Journal of Economics and Sociology, Wiley Blackwell, vol. 70(2), pages 480-510, April.
    3. Roger E. Backhouse & Steve G. Medema, 2009. "Defining Economics: The Long Road to Acceptance of the Robbins Definition," Economica, London School of Economics and Political Science, vol. 76(s1), pages 805-820, October.
    4. Marc Lavoie, 2014. "Post-Keynesian Economics: New Foundations," Post-Print hal-01343652, HAL.
    5. Stomu Yamash’ta & Tadashi Yagi & Stephen Hill, 2018. "The Path: From the Sacred Harmony of Humanity to a New Economics," Creative Economy, in: Stomu Yamash’ta & Tadashi Yagi & Stephen Hill (ed.), The Kyoto Manifesto for Global Economics, chapter 0, pages 3-10, Springer.
    6. Oleg Zinam, 1982. "The Myth of Absolute Abundance: Economic Development as a Shift in Relative Scarcities," American Journal of Economics and Sociology, Wiley Blackwell, vol. 41(1), pages 61-76, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Abundance Economics; Post-Scarcity Economics; Post-Keynesian Economics; Heterodox Economics; Wealth and Welfare;
    All these keywords.

    JEL classification:

    • B55 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Social Economics
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E71 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on the Macro Economy
    • O35 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Social Innovation
    • P46 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty

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