Sustainability and Economic Policy Syllabus

A new era of of human development is upon us. The rates of technological, economic, social and environmental change have dramatically increased since the 1950s; we live in a world that is characteristically different from the one all previous generations of humans experienced. On many fronts, humanity is presently navigating the unseen [23]. Despite a variety of undeniable achievements of our species, the world is faced with multiple overlapping crises in economic, social and environmental systems: “human society now appears to be facing a global problematique, a complex of interacting complex problems”[7]. Scientists have forcefully argued that humans have come to dominate the planet and identified “planetary boundaries” that must not be crossed to avoid unacceptable environmental change [21]. Furthermore, scientists have shown that the global ecosystems can be altered “abruptly and irreversibly from one state to another” when they cross critical thresholds. Through their socio-economic activities and environmental interventions (or lack thereof), humans can plausibly cause “a planetary-scale critical transition” [5] with unknown implications for humankind. While the economic way of thinking has a lot to offer in this area, the profession has been lagging behind: “Had field research not been sacrificed on the altar of mathematics and econometrics, or the disciplinary boundaries not been so tightly guarded, economists would have long ago advised a policy correction.” [18]. This class showcases a ‘sane’ side of economics that argues for transformations in social-ecological and economic systems that allow for human prosperity within our planetary limits.