Sustainable Economics

This blog has been set up to facilitate an international discourse around opportunities for transitioning to a paradigm of economics which is environmentally sustainable. If you have an interest in this topic you are welcome to participate.

Below is the scope of this blog.

The neo-classical economic paradigm, although still widely endorsed, has lost its relevance in today's fast-changing and increasingly complex world. The pursuit of an annual growth target in Gross Domestic Product (GDP) has created a scenario where exponential growth can be linked to unsustainable levels of consumption in natural resources.

GDP has moved past the purpose for which it was developed to become the primary economic indicator and a quality of life indicator in developed countries, including Australia. The Australian Bureau of Statistics recognises that national economic indicators need now to incorporate issues of environmental sustainability.

How can the economic frameworks that underpin GDP best be transformed to be more environmentally sustainable and which indicator is best to replace GDP as a primary indicator? Economic approaches better suited to capture the complex non-linear interactions of coupled systems of humans and ecosystems are rapidly gaining momentum. How can these new paradigms, tools and methods be 'mainstreamed'?

Which, more sustainable, national economic indicators are considered to be the most suitable as an alternative to GDP. Who are the key influencers in the development of economic policy in this area? What impacts on accountability frameworks and normative values can be anticipated as a result of the proposed changes? Finally, how best can the change process be triggered and maintained?

The first stage of sharing ideas within this blog is to exchange information on initiatives and literature related to the scope detailed above. If you have any links or names of literature you would recommend this would be greatly appreciated.

Thank you for your time.