“Rethinking Political Economy in the age of crisis”
A joint EBEN/SBE Panel on 21st century sustainable development
in the age of crisis
Panel organizers: Joseph DesJardins, Patricia H. Werhane, Michael S. Aßländer
Contact person: Patricia Werhane, email@example.com or telephone: 1-434 466 4840
Joint EBEN/SBE Workshop Series, Friday, 14th of May 2021, 3.00 p.m. – 6.00 p.m. (CET)
Meeting-ID: 881 8914 2834
Our research question to be considered by this panel is: “What happens to political economy when the growth assumption that was built into classical economics gets replaced by a model of sustainable development?”
Much of the 20th century literature on sustainable development structured that dialogue through a framework of classical economics where sustainable development could be justified only if a cost/benefit analysis of sustainable development programs produced positive financial results. However, since the coronavirus pandemic, we are beginning to see a shift in that thinking. The current economic recession created by global business closures, a retreat from a model of relentless economic growth, the actual improvement of the environment, and reduction of energy use, has forced us into rethinking how development could be sustainable and viable without being dependent on economic growth and the endless pursuit of positive economic returns.
This panel will explore these issues through both revisiting some elements of the history of political economy that form the foundation of classical economics and a more exploratory idea of sustainable development and contemporary analyses of the ethical, political, ecological and financial impacts or pursuing or ignoring sustainable development. While this panel may not reach definitive answers to these issues, it will explore many dimensions of the theme and encourage conversations to add to this dialogue.