What is it about?
The recent economic/environmental discourse on development issues has led to a new paradigm of development, called here the “eco‐economic development model”, but usually known as sustainable development (including both ecological and economic concerns), which has successfully substituted the traditional model of economic development in general acceptance. However, new models usually imply new rules and perhaps a new type of market, yet policy issues within the eco‐economic development paradigm are being addressed with theoretical constructs and a state of mind as if we were still in the old paradigm – perhaps because the nature and the internal structure of the new paradigm are not yet well known and understood, as nobody has apparently looked into this. It should be expected that the two paradigms are not equivalent to each other, and therefore, they should be addressed differently. This paper presents a qualitative approach, from a systematic point of view, which can be used to highlight how different the two paradigms are in terms of structure and policy implications. Then, this information is used to provide an answer to three questions: is the economic development market the same as the eco‐economic development market; if not, how many invisible hands are there in the eco‐economic development market; and what are the environmental, social, and economic policy implications of this situation?. Shows that new paradigms require a new line of thinking to market policy and planning.
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Why is it important?
The recent economic/environmental discourse on development issues has led to a new paradigm of development, called here the “eco‐economic development model”, but usually known as sustainable development (including both ecological and economic concerns), which has successfully substituted the traditional model of economic development in general acceptance. However, new models usually imply new rules and perhaps a new type of market, yet policy issues within the eco‐economic development paradigm are being addressed with theoretical constructs and a state of mind as if we were still in the old paradigm – perhaps because the nature and the internal structure of the new paradigm are not yet well known and understood, as nobody has apparently looked into this. It should be expected that the two paradigms are not equivalent to each other, and therefore, they should be addressed differently. This paper presents a qualitative approach, from a systematic point of view, which can be used to highlight how different the two paradigms are in terms of structure and policy implications. Then, this information is used to provide an answer to three questions: is the economic development market the same as the eco‐economic development market; if not, how many invisible hands are there in the eco‐economic development market; and what are the environmental, social, and economic policy implications of this situation?. Shows that new paradigms require a new line of thinking to market policy and planning.
Perspectives
The need to understand the nature, structure, and expectations in eco-economic development models/markets that leave traditional economic thinking behind is real and this article contributes to providing food for thoughts and logic to such a move in development thinking: the move from traditional markets to eco-economic development markets and the implications of doing this.
Mr. Lucio Muñoz
Independent QLC researcher
Read the Original
This page is a summary of: An overview of some of the policy implications of the eco‐economic development market, Environmental Management and Health, May 2000, Emerald,
DOI: 10.1108/09566160010321578.
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