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Nachhaltigkeit und Ordnungspolitik in der Krise
[Sustainability and Order Policy in Crisis]

Author

Listed:
  • Michels, Dr. Gerd

Abstract

The financial crisis challenges the economic system of the western sphere and its ethical, theoretical and economic foundations. It questions also its claim for superiority. The article reflects on the outcomes of its institutions and policies and it investigates these institutional outcomes by shedding light on its mechanistic foundations in policy and management. Following on from that, the underlying ,,logic of failure’’ is compared with an evolutionary and systemic management approach, that rests on a completely different understanding of ourselves and the environment. This policy and management approach explicitly focuses on the viability and sustainability of the system. Finally, major application fields are described and consequences are drawn for the respective goal definition and the process design transformation in business and public policy.

Suggested Citation

  • Michels, Dr. Gerd, 2010. "Nachhaltigkeit und Ordnungspolitik in der Krise [Sustainability and Order Policy in Crisis]," MPRA Paper 26715, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:26715
    as

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    File URL: https://mpra.ub.uni-muenchen.de/26753/1/MPRA_paper_26753.pdf
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    Citations

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    Cited by:

    1. Kümpel, Arndt, 2011. "Устойчивое региональное развитие, инновации и государствeнный потенциал [Sustainable regional development, innovation and state capacity]," MPRA Paper 33967, University Library of Munich, Germany, revised 08 Oct 2011.
    2. Kümpel, Arndt, 2011. "Sustainable regional development, innovation and state capacity," MPRA Paper 33966, University Library of Munich, Germany, revised 08 Oct 2011.

    More about this item

    Keywords

    economic history; logic of failure; evolutionary economics; systemic management approach; reflexivity; decision making theory; sustainable institutions;
    All these keywords.

    JEL classification:

    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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