Working Papers
V. Termini – The climate emergency and the turning point of sustainable growth: a way forward for the economic discipline
The new millennium began facing three transitions: a hegemonic transition, an ecological transition and an economic one, marked by the energy/digital revolution. Historical analysis helps to understand these crises, while economic analysis and policy appear stuck in the theoretical foundations set at the beginning of the last century.
The urgency of tackling the climate crisis and the risks of regional protectionism require a change of vision. Economics too must find a multidimensional perspective. The emergency of climate change demands a systemic economic theory in which knowledge from physics, chemistry, geography and history converge. This paper addresses and questions the deterministic foundations of economic discipline that underpin the current market view of economic policymaking.