Path to Sustainable Development – a Kaleckian-Schumpeterian Synthesis
Cycles, crises and innovation are the major economic forces that shape capitalist economies. These forces need to be harnessed for the daunting task of shifting the juggernaut of industrial and economic development away from the technological and organizational systems that have created an ecologically unsustainable world. Innovation for transforming the world’s industrial system into an ecologically sustainable society is the clarion call in this book. Creative destruction is required on a massive scale to open the market space for ecoinnovation (ecologically-based innovations). This narrative reveals how innovation is created, implemented and diffused through the globally dominant capitalist economic system. Based on these revelations, the second half of the book covers the public and private innovation strategies that form a transformational path towards sustainable development. Predicting the sustainable economic society that eventuates from this paradigm shift is not the purpose of this book. That will become apparent soon enough if (and as) the shift occurs. What this book aims to achieve is a framework for this paradigm shift. Whether the final destination is capitalist or some alternative is irrelevant to this discussion. The world community needs to plot a course towards sustainable development with many variations within it. By revealing the nature of innovation and how it operates to support unsustainable economic development, the framework for a strategic shift becomes evident. Thus, this is an economics book in the sense of providing an economic foundation to the innovation process and what is needed for paradigm shift. The book, however, covers much...