The Essentials of Economic Sustainability - Softcover

Ikerd, John

Softcover

ISBN 10: 1565495160 ISBN 13: 9781565495166

Publisher: Kumarian Press, 2012

Synopsis

The recent global financial crisis has raised widespread concern for the sustainability of the global economy. Much has been written concerning the negative impacts of economic development on natural ecosystems and civil societies. Unfortunately, few viable alternatives to the prevailing economic paradigms have been suggested for consideration. Those that have been are typically little more than suggestions for fine tuning capitalist or socialist economies.

In his new book, John Ikerd addresses the basic principles and concepts essential to economic sustainability. Some of these concepts are capitalist, some are socialistic, and others are general principles validated by philosophy or common sense. What results is a synthesis: something that is neither capitalist nor socialist but fundamentally different; it is sustainable. A special emphasis is placed on the essential, but limited, role of markets in economic sustainability, including the constraints that must be placed on markets to protect nature and society from economic exploitation.

Readers of any political and ideological persuasion will find this brief book engaging, informative, optimistic and refreshing. Instead of threats and apocalyptic pronouncements, Ikerd offers possibilities and assurance. Instead of epithets hurled at opponents, Ikerd offers possibilities for reconciliation and a renewed sense of the need to work cooperatively to find solutions to the most urgent problems of our era.

The Essentials of Economic Sustainability was written without references or examples to encourage readers to collaborate in the learning process by finding references and examples most appropriate to their particular situation or circumstances. References and examples relevant to the economic and political system of the United States can be found in Sustainable Capitalism, a Kumarian Press book by the same author.

About this title

About the Author:

John Ikerd spent the first half of his thirty-year academic career as a traditional free-market, neoclassical economist. He served on the faculties of four major state universities during his career: North Carolina State University, Oklahoma State University, the University of Georgia, and the University of Missouri. Growing concerns for the lack of ecological, social, and economic sustainability of American agriculture during the 1980s led to broader concerns for the lack of sustainability for American society in general. As an economist, Dr. Ikerd eventually came to understand that growing threats to ecological and social sustainability are rooted in the neoclassical paradigm of economic development, which is inherently extractive and exploitative, and thus, is not sustainable. Dr. Ikerd spent the last half of his academic career and much of his time since retirement developing and testing the concepts and principles of an alternative development paradigm, the economics of sustainability, which are elucidated in this book.

Review:

"Reading EES was worth my effort. It has made me understand economic thinking and its potential for promoting sustainability in new and more favorable ways, helping me to better appreciate that “sustainable capitalism” is not necessarily an oxymoron, but the devil is in the details of how one understands capitalism."

"The Essentials of Economic Sustainability offers college-level economics readers a fine survey discussing viable alternatives to traditional economic approaches to issues, and is a recommendation for any international development collection. It discusses a range of economic alternatives, from socialistic to capitalistic solutions, and provides a synthesis of ideas that don't follow any particular party line. An emphasis on the role of markets in economic sustainability and discussions of leadership and how principles of economics reflect actions of people makes for an involving and optimistic discussion recommended for any economics issues collection."

"Writing largely for non-economists, the author seeks to lay out common principles for a sustainable approach to economic matters that recognizes the ways in which natural and societal resources are inevitably degraded by economic activity and borrows, wherever deemed necessary, from capitalist, socialist, and "common-sense" approaches to economic questions. He presents chapters delineating the ecological, social, and economic principles of sustainability; and discusses the key roles of markets and governments in ensuring sustainability. In the end, he points to a mixed planned/market economy that disavows the pursuit of growth as the goal of economic activity. The author eschews any citations to other works, he says, in an effort to minimize any political and cultural bias and to maximize the appeal of the text."

"Writing largely for non-economists, the author seeks to lay out common principles for a sustainable approach to economic matters that recognizes the ways in which natural and societal resources are inevitably degraded by economic activity and borrows, wherever deemed necessary, from capitalist, socialist, and "common-sense" approaches to economic questions. He presents chapters delineating the ecological, social, and economic principles of sustainability; and discusses the key roles of markets and governments in ensuring sustainability. In the end, he points to a mixed planned/market economy that disavows the pursuit of growth as the goal of economic activity.
The author eschews any citations to other works, he says, in an effort to minimize any political and cultural bias and to maximize the appeal of the text."

"Keeping things simple when speaking on a profoundly complex issue, Prof Ikerd offers us a truly remarkable introduction to the very essence of the sustainability challenge. The text will appeal to the reader of any culture or background and will facilitate personal exploration of this key issue of the human race."

"This is a must- read book for those who dream about quality of life, and think about our future generations. Most of us agree that our planet is in a great danger and many believe that we are running it in the wrong direction. Understanding and implementing The Essentials of Economic Sustainability is crucial for the well-being of our Society and the future of humanity.

For the developing countries, John Ikerd’s book presents a clear way of pursuing progress and prosperity under rational approaches oriented to Sustainability. This book must be translated into different languages to help underdeveloped countries avoid making the same mistakes that developed nations made in pursuing their economic growth. Making this book available for teachers, students and everyone involved in constructing a more sustainable society has to be the next step on this great effort accomplished by Dr. Ikerd."

"John Ikerd invites us to learn together while building on his path-breaking scholarship about the economy in a sustainable society. He shows that in a sustainable future the economy must emerge jointly with the essential decisions about environmental, social and ethical dimensions of the world. John provides many tools to engage us in further learning. This book would be a joy as a teaching resource."

"While short, it is a very important book on ecological economics, which not only can help us awake suddenly from the obsession with GDP growth, but also profoundly points to a healthy way to economic sustainability."

About this edition

• Publisher: Kumarian Press
• Publication date: 2012
• ISBN 10: 1565495160
• ISBN 13: 9781565495166
• Binding: Paperback
• Number of pages: 164