Chapter 13 The Demise of Mainstream Economic Reasoning and the Alternative: A Generalized System-Model of Money, Real Economy, Finance, and Sustainability

Abstract

Davos World Economic Forum (2008a–d) sparked off a number of critical points on global economic remodeling. They bring forth social and economic facts that are to be addressed in a framework quite different from the conventional policy-theoretic reasoning of age-old socioeconomics. The prevalent reasoning continues on the traditional paradigm of growth and sharing, but in an unequal world of power, politics, and self-interest. In the present status quo, resources do not flow between the top and bottom, the industrialized and the developing countries, the rich and the poor, except by means of handouts and relief (Hans Singer and Ansari, 1988).

Citation

Alam Choudhury, M. (2011), "Chapter 13 The Demise of Mainstream Economic Reasoning and the Alternative: A Generalized System-Model of Money, Real Economy, Finance, and Sustainability", Baltagi, B.H., Sadka, E. and Alam Choudhury, M. (Ed.) Contributions to Economic Analysis (Contributions to Economic Analysis, Vol. 291), Emerald Group Publishing Limited, Leeds, pp. 265-277. https://doi.org/10.1108/S0573-8555(2011)0000291023