Economics Needs to Ditch Most of What It Does and Adopt a Realist Global Political Economy and Futures Approach
Year: 2023
Type: article
Abstract: Mainstream economics has been involved in the dynamics of the world economy, yet it constitutes a multilevel hindrance to any adequate global responses to the consequences of the growth of the world economy and its by-products such as global heating, the extinction crisis, the emergence of weapons of mass destruction and other potentially destructive technologies (from nano- and biotechnologies to the technologies of space expansion and AI). I argue towards a theme encapsulated in my title, focusing on the things which characterize economics and its role in global governance. In conclusion, I point out that the immediate rational response to the currently prevailing contradictions and disintegrative tendencies in the global political economy would be global Keynesianism shorn of ‘growthist’ and technocratic connotations often associated with Keynes’s name.
Source: Työväentutkimus Vuosikirja
Author: Patomäki, Heikki
Language: English
Subfield: Sociology and Political Science
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W7197500545