Putting 'Good Society' ahead of the economy: Overcoming neoliberalism's growth trap and its costly consequences

Khan, Mohammed Adil (2015) Putting 'Good Society' ahead of the economy: Overcoming neoliberalism's growth trap and its costly consequences. Sustainable Development, 23 1: 55-63. doi:10.1002/sd.1571


Author Khan, Mohammed Adil
Title Putting 'Good Society' ahead of the economy: Overcoming neoliberalism's growth trap and its costly consequences
Journal name Sustainable Development   Check publisher's open access policy
ISSN 1099-1719
0968-0802
Publication date 2015-01-01
Year available 2015
Sub-type Article (original research)
DOI 10.1002/sd.1571
Volume 23
Issue 1
Start page 55
End page 63
Total pages 9
Place of publication Chichester, United Kingdom
Publisher John Wiley and Sons Ltd
Collection year 2016
Language eng
Abstract With the rise of neoliberalism, a corporate-dominated state assisted deregulated growth strategy, which has caught most countries in the throes of what can be termed a ‘growth trap’, has indeed yielded significant economic gains for many, but at the same time has also entailed inexorable social, moral and environmental adversities. This paper argues that the reason we experience the incongruities between neoliberalism induced economic growth and social nourishing is because we give economy primacy over society, sometimes to its cost. Given the colossal social, environmental and moral damage that the pursuit of neoliberal economic growth has caused to society, it is important that we recalibrate our focus from the economy to society and ensure that neither growth nor ‘development’, but rather formation of what this paper terms ‘good societies’ – entities that nurture and thrive on values of equity, empathy, social justice and environmental sustainability – constitutes the end goal of all public actions. By drawing lessons from several philosophical and practical ideas, the paper offers several policy options relevant to implementation of the ‘good society’ concept both within and across nations.
Keyword Consumerism
Development
Economy
Good society
Materialism
Neoliberalism
Sustainable development
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2016 Collection
School of Social Science Publications
 
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