The Macroeconomics of de-growth - Can a de-growth strategy be stable?

Inhaltsverzeichnis (Table of Contents)

• Introduction
• From growth critics to de-growth
  • Historical overview of the economic growth theories and environmental limits
  • Formation of the de-growth concept from the environmental perspective
• Economics of the concepts for sustainability
  • Neoclassical environmental approach to sustainability
  • Ecological approach to sustainability
    • The Steady-State economy
    • The LowGrow model
  • Post-Keynesian approach to sustainability
• De-growth modelling in the Post-Keynesian economic framework
  • Kaleckian model and its extensions
    • Dutt-Amadeo model and Bhaduri-Marglin extension
    • The impact of financialisation
  • The de-growth assumptions in the Kaleckian model
    • Zero growth assumption in the Dutt-Amadeo, Bhaduri-Marglin, and market financialisation framework
    • Governmental intervention in the economy
    • Evaluation of the functioning model with the given notion of de-growth
• Policy recommendations

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This paper aims to analyze the feasibility of a de-growth strategy for achieving macroeconomic stability within a post-Keynesian framework. The study examines whether the de-growth strategy can be implemented and sustained within the current economic system while addressing environmental concerns.

• The concept of de-growth as an alternative to traditional economic growth models.
• The relationship between economic growth, environmental limits, and sustainability.
• The potential for a de-growth strategy to achieve macroeconomic stability and address environmental issues.
• The role of government intervention and policy recommendations for implementing a de-growth strategy.
• The use of a post-Keynesian approach and the Kaleckian model to analyze the macroeconomic implications of de-growth.

Zusammenfassung der Kapitel (Chapter Summaries)

• Introduction: The paper introduces the concept of de-growth as a response to environmental degradation and explores its relevance in light of the 2008-2009 financial crisis. It presents the main research question, which focuses on the feasibility of achieving macroeconomic stability within a de-growth framework. The author highlights the use of a post-Keynesian approach with the Kaleckian model as the foundation for the analysis.
• From growth critics to de-growth: This chapter provides a historical overview of economic growth theories and their limitations from an environmental perspective. It then delves into the formation of the de-growth concept, emphasizing the need to address the unsustainable nature of conventional growth models.
• Economics of the concepts for sustainability: Chapter 3 analyzes various approaches to sustainability, examining both the neoclassical and ecological perspectives. It highlights the key elements of the Steady-State economy and the LowGrow model, while also discussing the role of the post-Keynesian approach in achieving sustainable economic development.
• De-growth modelling in the Post-Keynesian economic framework: This chapter explores the integration of de-growth assumptions into the Kaleckian model, utilizing extensions like the Dutt-Amadeo and Bhaduri-Marglin models. It examines the impact of financialization and the role of governmental intervention in implementing a de-growth strategy within this framework.
• Policy recommendations: This chapter presents potential policy recommendations that could support the implementation of a de-growth strategy. It identifies specific measures to address the economic and environmental challenges associated with shifting towards a zero-growth paradigm.

Schlüsselwörter (Keywords)

The research focuses on the macroeconomic implications of a de-growth strategy. This involves examining the relationship between economic growth, environmental constraints, and sustainability. The paper explores the potential for a de-growth approach to achieve macroeconomic stability and address environmental issues. Key terms and concepts include: de-growth, sustainability, consumption and production patterns, ecological and environmental economics, post-Keynesian economics, Kaleckian model, taxation, distribution policy, and regulation.