Block 3 - Sustainability Visions Flashcards
(20 cards)
What is the main focus of neoclassical economics in pro-growth visions?
Price determination through supply and demand under perfect information and competition.
What does the Environmental Kuznets Curve hypothesis propose?
Economic growth eventually benefits the environment in the long term.
What are core policy proposals of green growth?
Investing in renewable energy, green infrastructure, market-based policies, and technological innovation.
What is heterodox economics?
A pluralistic approach rejecting neoclassical paradigms, focusing on scarcity, uncertainty, and systemic change.
What is the concept of degrowth?
Fair downscaling of production and consumption to improve well-being and ecological conditions.
What is subjective well-being?
An individual’s self-assessment of life satisfaction and emotional state.
Name some of the 9 planetary boundaries in Doughnut Economics.
Climate change, biodiversity loss, ocean acidification, ozone depletion, biogeochemical flows, freshwater use, land-system change, atmospheric aerosols, novel entities.
What goal shift does Doughnut Economics propose?
From maximizing GDP to meeting people’s needs within planetary limits.
What is Green Industrial Policy?
Policies aimed at transforming economic activity towards sustainability and decarbonization.
How does China’s industrial policy support green technology?
Through mandatory quotas, subsidies, multi-level planning, and heavy investment.
What is import-substitution industrialization?
Protecting local industries to reduce reliance on exports and promote self-sufficiency and growth.
What is structuralism’s view on underdevelopment?
Technology gaps and unequal trade keep the Global South trapped in underdevelopment.
What role does the state play in structuralism?
Promoting industrialization, innovation, diversification, and shielding emerging sectors from competition.
What are social costs of economic growth?
Stress from consumer habits, weakened community relations, status consumption, and commodification of social services.
Why is GDP a poor measure of progress?
It counts money flow, not well-being; ignores unpaid work; and can reflect harmful activities.
What are the main critiques of green growth?
Neglects planetary boundaries, equity issues, and systemic critique of capitalism.
What is the Doughnut Economics Action Lab (DEAL)?
A community promoting practical use of Doughnut economics for sustainability.
What is work-sharing in degrowth policy proposals?
Reducing working hours and sharing jobs to lower consumption and carbon emissions.
What are the differences between subjective and objective well-being?
Subjective is self-assessed life satisfaction, objective is measurable needs satisfaction.
How do ecological economics view the economy?
As a subsystem embedded within society and nature, relying on natural resources and producing waste.
