Title: Post-Keynesian economics and sustainable development

Authors: Richard P.F. Holt

Addresses: Economics Department, Southern Oregon University, Ashland, OR 97520, USA

Abstract: This paper looks at the relationship between sustainable development and economics. Neoclassical economics with its current methodological approach is not well suited to understand or analyse the problem of sustainable development. Post-Keynesian economics – with its focus on macro and policy outcomes, the role of institutions, uncertainty, historical time, and its criticism of gross substitution and ergodicity – has elements within its methodology that makes it better suited to incorporate sustainability into its analysis than neoclassical economics.

Keywords: sustainable development; neoclassical economics; post-Keynesian economics; ergodicity; environmental economics; ecological economics.

DOI: 10.1504/IJEWE.2005.006383

International Journal of Environment, Workplace and Employment, 2005 Vol.1 No.2, pp.174 - 186

Published online: 02 Mar 2005 *

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