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Climate change and the premises for a New Society
Shachi Amdekar, Ajit Singh
Journal:

The Economic and Labour Relations Review / Volume 25 / Issue 4 / December 2014

Published online by Cambridge University Press:

01 January 2023, pp. 563-573
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The starting point for this article is the excellent article by Professor Marglin on the dangers of climate change. He outlines a broad remedial prescription, a new economics based on ecological concerns and a broadly based cultural revolution to change people’s thinking. We agree with Marglin that the prevailing neoclassical analysis is fundamentally flawed because inter alia it adheres to individuals’ independent (rather than inter-dependent) utility functions. It is argued that ultimately the problem of the ecosystem, and indeed violent threats of mass destruction that we constantly face cannot be solved without the insights that community and spiritual thinking bring us.