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To spend or to avoid? A critical review on the role of money in aiming for sufficiency

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  • Jouzi, Fatemeh
  • Levänen, Jarkko
  • Mikkilä, Mirja
  • Linnanen, Lassi

Abstract

Efforts to address the consequences of growth-oriented economics through efficiency-oriented strategies have been ineffective, while sufficiency strategies and absolute reduction of consumption face implementation challenges. The role of money in the reduction of consumption is complex and largely an unclear phenomenon. In this paper, we critically review the concept of money in sufficiency research, categorize its appearance in solutions and problems, and map out the sufficiency aspects of money in a suggested framework. Our results show two conflicting perspectives among scholars. Many developed solutions in sufficiency literature are money-dependent and aim to refine current organized economic activities towards sustainability goals. In contrast another group of solutions suggest avoiding money and all money transactions for pursuing sufficiency. On the basis of a critical review and qualitative analysis, this work evaluates assumptions and interpretations in the field, suggests a framework for assessing sufficiency aspects of money and contributes to efforts in the area of operationalization of sufficiency by questioning money from a conceptual perspective.

Suggested Citation

  • Jouzi, Fatemeh & Levänen, Jarkko & Mikkilä, Mirja & Linnanen, Lassi, 2024. "To spend or to avoid? A critical review on the role of money in aiming for sufficiency," Ecological Economics, Elsevier, vol. 220(C).
    • Handle: RePEc:eee:ecolec:v:220:y:2024:i:c:s0921800924000879
    DOI: 10.1016/j.ecolecon.2024.108190
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