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Ecological imperialism refers to the historical and contemporary exercise of power by the North over the South that leads to ecologically destructive consequences of which the South is usually the victim. Using this power, wealthy countries in the Global North are capable of steering mainstream discourse on global environmental issues in directions that benefit and privilege themselves at the expense of the Global South. Analysis should thus be applied not only to ecological imperialism in the pure economic sense, but also to the uneven power relations in the political and ideological arena that serve to reproduce ecological imperialism in an overarching sense. This article, inspired by the concept of ecological imperialism developed in the Marxian tradition, explores how researchers and global institutions in the Global North frame the narratives of climate change culpability through selective presentation of emission statistics that tends to minimize the accountability of the North while inflating that of the Global South. Such narratives also contain the Malthusian perception that economic development and population growth in the Global South, above all, should be taken as major threats to climate change solutions. This type of reasoning again serves to justify and maintain the current hierarchical global system and reinforce ecological imperialism. [ABSTRACT FROM AUTHOR]

In a previous essay (Part 1), we examined the economic arguments for development policies that placed certain groups at the vanguard of development policy, making note of the place of the poor in these arguments. In this essay (Part 2), we look at the case for making the poor the central focus of development policy, following the principle in Catholic social thought of the "preferential option for the poor." That principle recommends evaluation of policies and outcomes first and foremost on how they affect the poor. In looking at the U.N. development agenda, from the first development decade to the millennium development goals and sustainable development goals, we can see a tension between economic growth and eradication of poverty. Over time, a shift in focus has occurred towards placing the poor at the center of development policy. By focusing on the poor and poverty eradication, development policy becomes more about human flourishing, which, ironically, produces higher levels of growth in developing countries. It does, however, lower the growth rate of developed countries, as it reduces their privileged position. [ABSTRACT FROM AUTHOR]

Many of the problems neoclassical economic theory has in explaining the real world stem from its narrow view of human nature—the "rational economic man" model, which forces economists to exclude social and historical context. Every social theory starts with a view of human nature that necessarily comes from outside the social sciences. Philosophy and theology are the sources of our ideas about the nature of humans, society, and the good that humans pursue. Catholic Social Thought has a rich understanding of human nature, which includes both the uniqueness of persons and their inherently social nature. Starting from this foundation, economists can develop a deeper understanding of the nature of the economy. Catholic Social Thought does not offer a different economic theory or model, but it does provide an alternative vision upon which more adequate and realistic economic theories can be constructed. [ABSTRACT FROM AUTHOR]

According to the standard narrative, economics is an objective and scientific study of universal laws applicable to economic affairs of modern societies. After a brief introduction, the second section of the article presents a counter‐narrative that disputes this claim, and provides an alternative point of view that situates modern economics within its European historical, political, and social context. We briefly discuss why the conventional methodology of modern economics makes false claims to objectivity and universality. The third section provides an alternative methodology that is based on the recognition that human behavior is inherently and unavoidably normative, and any study of human beings and societies must take this into account. The fourth section of the article brings out the norms concealed within the foundations of modern economics, since the avowed methodology does not permit explicit and open expression of these norms. The fifth section describes Islamic views that describe the normative ideals for our personal and social lives. In particular, Islam aims at the development of the potential for excellence that every human being is born with. It does not aim at accumulation of wealth and material possessions. Nor does it aim at achievement of happiness through the maximization of pleasure achieved by consumption. The sixth section describes the transformational strategies required for spiritual progress in different dimensions of our human existence. The seventh section describes some of the institutional structures required in the economic realm to assist in the achievement of the transformation towards the normative ideals. The final section explains how we should use our unique and precious lives to aim for higher goals than mere consumption of goods and acquisition of wealth. [ABSTRACT FROM AUTHOR]

This essay develops three central points: Buddhist economics (BE), like most religion‐based economics, is not only an extrapolation from the basic texts but is also how BE has recently been practiced. Examples of that practice include the application of the concept of "Gross National Happiness" in Bhutan, the implementation of a "sufficiency economy" in Thailand, and action based on the principle of the Unification of King and People in Yogyakarta, Indonesia.BE as a concept comes originally from an outside understanding of Buddhism that entails perspectives that text‐based BE might not have.Buddhism, as such, is at odds with standard textbook economics (STE). BE thus potentially forms its own economic paradigm, but BE as practiced often coexists with STE. Discussing these points will hopefully result in seeing that there is considerable diversity within BE and that there is such a thing as real, existing BE that truly does matter. [ABSTRACT FROM AUTHOR]

To help understand why the Great Recession occurred, this article focuses on its underlying causes and employs Karl Marx's theory of capitalist economic crisis. It shows that U.S. corporations' rate of return on fixed asset investment fell throughout the half-century preceding the recession, and that this fall accounts for the entire decline in their rate of capital accumulation (productive investment). The investment slowdown led to a decline in the rate of economic growth, which was a main cause of rising debt burdens, as were stimulative fiscal and monetary policies that delayed but exacerbated the effects of the underlying economic problems. The article also refutes the claim that the rate of profit could not really have fallen because massive redistribution of income from wages to profits took place, and it argues that it is unlikely that major crises of capitalism can be eliminated. [ABSTRACT FROM AUTHOR]