Transformation of capitalism to enforce ecologically sustainable GDP growth: lessons from Keynes and Schumpeter

Artikel

An economy with a low stable medium-term growth rate given by ecological needs is only possible after a radical reform of the type of capitalism we have today. In an ecologically sustainable economic system, aggregate demand has to be controlled on a macroeconomic level. Of focal importance is the steering of investment. Here a national credit plan that fixes the national credit volume and to a certain extent the allocation of credit is in the centre. For consumption demand in a low-growth economy it is important that saving is low or in a zero-growth economy even zero, whereas at the same time accumulation of deficits of economic sectors or sub-sectors such as poorer households are not sustainable. Here policies to achieve a more equal distribution of income and wealth are suitable. Although comprehensive government interventions and rules are needed in an ecologically low-growth economy, the recommended system is not comparable with a planned system of the former Soviet type. Whether such an alternative system is understood as a version of highly regulated capitalism or as a new system is a question of taste.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: European Journal of Economics and Economic Policies: Intervention (EJEEP) ; ISSN: 2052-7772 ; Volume: 19 ; Year: 2022 ; Issue: 1 ; Pages: 159-173

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Current Heterodox Approaches: Historical; Institutional; Evolutionary ; Other Economic Systems: Planning, Coordination, and Reform
• Thema: ecological transformation ; low-growth economy ; credit planB20

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Herr, Hansjörg
• Ereignis: Veröffentlichung
• (wer): Edward Elgar Publishing
• (wo): Cheltenham
• (wann): 2022

Weitere Informationen

• DOI: doi:10.4337/ejeep.2022.01.11
• Handle: http://hdl.handle.net/10419/277540
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ