Changing the Dominant Paradigm in Economics

This article addresses the discussion proposed by the World Academy of Art & Science (WAAS) about the need to build a new paradigm to confront the challenges of the global society and to move across to a New Society discussing specific problems related to economic globalization and proposing cha...

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Main Author: Maria de Lourdes Mollo
Format: Article
Language:English
Published: Risk Institute, Trieste- Geneva 2015-10-01
Series:Cadmus
Online Access:http://cadmusjournal.org/article/volume-2/issue-5/changing-dominant-paradigm-economics
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spelling doaj-5d105f9c764f4ef0a5d8b7d058f207182020-11-24T23:42:41ZengRisk Institute, Trieste- GenevaCadmus2038-52422038-52502015-10-0125119133Changing the Dominant Paradigm in EconomicsMaria de Lourdes Mollo0Full Professor, Department of Economics, University of BrasíliaThis article addresses the discussion proposed by the World Academy of Art & Science (WAAS) about the need to build a new paradigm to confront the challenges of the global society and to move across to a New Society discussing specific problems related to economic globalization and proposing changes. The ways in which economic orthodoxy and heterodoxy analyze the role of the State and the question of sustainability of development and the problems of environmental sustainability depend on their different views or theoretical arguments about the role of the market. The article contrasts the mainstream economics arguments to support the free market context of globalization with Post-Keynesian and Marxist’s skeptical or critical views. Finally, it proposes some strategies to face the critical aspects analyzed making suggestions to move to another dominant economic paradigm.http://cadmusjournal.org/article/volume-2/issue-5/changing-dominant-paradigm-economics
collection DOAJ
language English
format Article
sources DOAJ
author Maria de Lourdes Mollo
spellingShingle Maria de Lourdes Mollo
Changing the Dominant Paradigm in Economics
Cadmus
author_facet Maria de Lourdes Mollo
author_sort Maria de Lourdes Mollo
title Changing the Dominant Paradigm in Economics
title_short Changing the Dominant Paradigm in Economics
title_full Changing the Dominant Paradigm in Economics
title_fullStr Changing the Dominant Paradigm in Economics
title_full_unstemmed Changing the Dominant Paradigm in Economics
title_sort changing the dominant paradigm in economics
publisher Risk Institute, Trieste- Geneva
series Cadmus
issn 2038-5242
2038-5250
publishDate 2015-10-01
description This article addresses the discussion proposed by the World Academy of Art & Science (WAAS) about the need to build a new paradigm to confront the challenges of the global society and to move across to a New Society discussing specific problems related to economic globalization and proposing changes. The ways in which economic orthodoxy and heterodoxy analyze the role of the State and the question of sustainability of development and the problems of environmental sustainability depend on their different views or theoretical arguments about the role of the market. The article contrasts the mainstream economics arguments to support the free market context of globalization with Post-Keynesian and Marxist’s skeptical or critical views. Finally, it proposes some strategies to face the critical aspects analyzed making suggestions to move to another dominant economic paradigm.
url http://cadmusjournal.org/article/volume-2/issue-5/changing-dominant-paradigm-economics
work_keys_str_mv AT mariadelourdesmollo changingthedominantparadigmineconomics
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