Mainstream economics’ war with the environment: counter-critiques from heterodox economics and Islamic economics
Ekrem Yilmaz,
Güler Deymencioğlu,
Mehmet Atas
et al.
Abstract:Purpose
This study aims to present the perspectives of heterodox economics and Islamic economics on environmental economics, as an alternative to mainstream economics, which takes economic growth as its main objective and argues that environmental problems will largely disappear when economic growth is achieved.
Design/methodology/approach
In this study, there was no intention to conduct a detailed analysis of heterodox economic models and Islamic economics. Instead, the approaches to the “environment,” whic… Show more
Purpose
This study aims to investigate the viewpoints of heterodox economic thoughts and Islamic economic thought concerning the concept of waste. Additionally, it explores the shared criticisms that both perspectives hold against mainstream economic thought in relation to waste.
Design/methodology/approach
First of all, the concept of waste is examined and the global effects of waste are investigated. Criticisms directed in the context of waste in mainstream economics in the context of heterodox school thoughts are examined. Likewise, criticisms directed in the context of waste in mainstream economics in the context of Islamic economic thoughts are examined. Finally, the common and different aspects of heterodox and Islamic economic thoughts were discussed, and the common criticisms of mainstream economic thought’s point of view toward waste were examined. This study is a theoretical, qualitative study.
Findings
Although both ideas have different aspects, heterodox and Islamic economic thoughts believe that the mainstream economy, which is based on capitalism and materialism, creates waste by ignoring the long-term social and environmental consequences of economic activity. They argue that the pursuit of profits and growth, without considering the impact on society and the environment, leads to an inefficient and unsustainable use of resources.
Originality/value
The best author’s knowledge, by emphasizing the common and different aspects of Islamic economics and heterodox thoughts, this study is the first to examine the concept of waste in the context of the common aspects of these ideas.
Purpose
This study aims to discuss the behavioral economics and Islamic economic joint criticisms against the conceptual and economic political view of the mainstream.
Design/methodology/approach
The purpose of this study is to examine the effectiveness of mainstream economic policies in addressing unemployment. Furthermore, it critically assesses the mainstream perspective on unemployment within the contexts of Islamic economics and behavioral economics, separately. The commonalities and disparities between the approaches of Islamic economics and behavioral economics regarding unemployment are evaluated. Subsequently, the conventional viewpoint on unemployment is scrutinized from the combined standpoint of Islamic economics and behavioral economics. This article employs a theoretical approach to address these concerns.
Findings
Although there are some differences, the recommendations and values of Islamic Economics and behavioral economics in the context of unemployment are almost the same. And, more importantly, both approaches are similar in their emphasis on the ineffectiveness and distance from human values of mainstream economic policies.
Originality/value
This article is the first to examine unemployment from the joint perspectives of Islamic economics and behavioral economics. It is also the first article to criticize the mainstream view of unemployment from the common framework of these two approaches.
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