According to policy expert Anthony Annett, economics needs to return to its origins in moral philosophy to regain its validity in the 21st century. In this insightful appeal, he argues that the prevailing neoclassical doctrine encourages reckless behaviors, such as those that led to climate change and to the 2008 global financial crisis. He posits that economics must consider the social and environmental costs of economic activities. getAbstract recommends Annett’s well-presented and compelling case to government and business leaders as well as to economists.
In this summary, you will learn
- Why neoclassical economic assumptions are proving to be incorrect and
- How the United Nations’ Sustainable Development Goals are helping to reintroduce universal ethics into economic thinking.
About the Author
Anthony Annett is an assistant to the director of the IMF’s Communications Department.