Reform or transform? A spectrum of stances towards the economic status quo within ‘new economics’ discourses
‘New economics’ discourses – comprising diverse approaches advocated as more just and sustainable replacements of dominant neoclassical and neoliberal economic perspectives – have been criticised as insufficiently coherent to form the ‘discourse coalitions’ necessary to enter the mainstream. To date...
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| Format: | Article |
| Language: | English |
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Bristol University Press
2024-10-01
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| Series: | Global Social Challenges Journal |
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| Online Access: | https://doi.org/10.1332/27523349Y2024D000000025 |
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| author | Sam J. Buckton Jasper O. Kenter Nibedita Mukherjee Sandra Waddock Annela Anger-Kraavi Simone Martino Ioan Fazey Adam P. Hejnowicz Jane Kabubo-Mariara Jordan O. Lafayette Kristen Locy Chris Scarr |
| author_facet | Sam J. Buckton Jasper O. Kenter Nibedita Mukherjee Sandra Waddock Annela Anger-Kraavi Simone Martino Ioan Fazey Adam P. Hejnowicz Jane Kabubo-Mariara Jordan O. Lafayette Kristen Locy Chris Scarr |
| author_sort | Sam J. Buckton |
| collection | DOAJ |
| description | ‘New economics’ discourses – comprising diverse approaches advocated as more just and sustainable replacements of dominant neoclassical and neoliberal economic perspectives – have been criticised as insufficiently coherent to form the ‘discourse coalitions’ necessary to enter the mainstream. To date there has been little systematic exploration of the agreement or divergence in new economics discourses. Here, we conduct a qualitative systematised review of new economics literature in the context of the COVID-19 pandemic to analyse stances towards the economic status quo and the depth of change advocated in it, such as fundamental and systemic transformation or more superficial reformist or accepting types of change that mostly maintain current economic systems. We interpreted authors’ stances towards six key status quo themes: capitalism; neoliberalism; GDP-based economic growth; debt-based money; globalisation; and the Sustainable Development Goals (SDGs). In the 525 documents analysed, there was relative consensus that neoliberalism needed transforming, stances towards GDP-based growth substantially diverged (from transformative to reformist/accepting), and stances towards the SDGs were mostly accepting, although the status quo themes tended to be infrequently mentioned overall. Different new economics approaches were associated with diverging stances. We suggest that alignment against neoliberalism and towards the SDGs may provide strategic coalescing points for new economics. Because stances towards core problematised aspects of mainstream economics were often not articulated, we encourage new economics scholars and practitioners to remain explicit, aware and reflexive with regard to the economic status quo, as well as strategic in their approach to seeking economic transformation. |
| format | Article |
| id | doaj-art-2009ea32d2ef40d2b1704d7898b75a08 |
| institution | Kabale University |
| issn | 2752-3349 |
| language | English |
| publishDate | 2024-10-01 |
| publisher | Bristol University Press |
| record_format | Article |
| series | Global Social Challenges Journal |
| spelling | doaj-art-2009ea32d2ef40d2b1704d7898b75a082025-01-20T03:33:00ZengBristol University PressGlobal Social Challenges Journal2752-33492024-10-013310.1332/27523349Y2024D000000025gscj-03-03-382Reform or transform? A spectrum of stances towards the economic status quo within ‘new economics’ discoursesSam J. Buckton0Jasper O. Kenter1Nibedita Mukherjee2Sandra Waddock3Annela Anger-Kraavi4Simone Martino5Ioan Fazey6Adam P. Hejnowicz7Jane Kabubo-Mariara8Jordan O. Lafayette9Kristen Locy10Chris Scarr11University of York, UKUniversity of York, Ecologos Research Ltd and Aberystwyth University, UKBrunel University London, UKBoston College, USAUniversity of Cambridge, UKThe James Hutton Institute, UKUniversity of York, UKUniversity of York, Newcastle University and University of Edinburgh, UKPartnership for Economic Policy and University of Nairobi, KenyaLancaster University and University of Nottingham, UKUniversity of York, UKUniversity of York and The James Hutton Institute, UK‘New economics’ discourses – comprising diverse approaches advocated as more just and sustainable replacements of dominant neoclassical and neoliberal economic perspectives – have been criticised as insufficiently coherent to form the ‘discourse coalitions’ necessary to enter the mainstream. To date there has been little systematic exploration of the agreement or divergence in new economics discourses. Here, we conduct a qualitative systematised review of new economics literature in the context of the COVID-19 pandemic to analyse stances towards the economic status quo and the depth of change advocated in it, such as fundamental and systemic transformation or more superficial reformist or accepting types of change that mostly maintain current economic systems. We interpreted authors’ stances towards six key status quo themes: capitalism; neoliberalism; GDP-based economic growth; debt-based money; globalisation; and the Sustainable Development Goals (SDGs). In the 525 documents analysed, there was relative consensus that neoliberalism needed transforming, stances towards GDP-based growth substantially diverged (from transformative to reformist/accepting), and stances towards the SDGs were mostly accepting, although the status quo themes tended to be infrequently mentioned overall. Different new economics approaches were associated with diverging stances. We suggest that alignment against neoliberalism and towards the SDGs may provide strategic coalescing points for new economics. Because stances towards core problematised aspects of mainstream economics were often not articulated, we encourage new economics scholars and practitioners to remain explicit, aware and reflexive with regard to the economic status quo, as well as strategic in their approach to seeking economic transformation.https://doi.org/10.1332/27523349Y2024D000000025economic systemseconomic perspectivestransformative changesustainabilityregenerative |
| spellingShingle | Sam J. Buckton Jasper O. Kenter Nibedita Mukherjee Sandra Waddock Annela Anger-Kraavi Simone Martino Ioan Fazey Adam P. Hejnowicz Jane Kabubo-Mariara Jordan O. Lafayette Kristen Locy Chris Scarr Reform or transform? A spectrum of stances towards the economic status quo within ‘new economics’ discourses Global Social Challenges Journal economic systems economic perspectives transformative change sustainability regenerative |
| title | Reform or transform? A spectrum of stances towards the economic status quo within ‘new economics’ discourses |
| title_full | Reform or transform? A spectrum of stances towards the economic status quo within ‘new economics’ discourses |
| title_fullStr | Reform or transform? A spectrum of stances towards the economic status quo within ‘new economics’ discourses |
| title_full_unstemmed | Reform or transform? A spectrum of stances towards the economic status quo within ‘new economics’ discourses |
| title_short | Reform or transform? A spectrum of stances towards the economic status quo within ‘new economics’ discourses |
| title_sort | reform or transform a spectrum of stances towards the economic status quo within new economics discourses |
| topic | economic systems economic perspectives transformative change sustainability regenerative |
| url | https://doi.org/10.1332/27523349Y2024D000000025 |
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