Economic Transformation: Designing a Contemporary Economy

This book discusses the requirements and preconditions for transforming the economy in order to achieve defined goals while maintaining and utilizing the efficiency of markets. It shows how economic concepts and practices need to be reconsidered and revised in the face of enormous ecological damage and significant economic inequality across much of the world.

The book systematizes essential ecological and social targets and presents factors influencing Economic Transformation. Various transformation concepts are discussed with regard to their contribution to adequate economic design and corresponding options for action are developed. Businesses, private households, the state and the commons are involved in these reflections, but also supranational institutions and (civil) society. The ecological compatibility of the economy and the reduction of excessive divergencies in income and wealth are the guiding principles of the overall considerations. In addition, the extent to which the concerns of Economic Transformation are reflected in the government programs of the USA, Great Britain, South Africa and Germany is examined.

The book will be of interest to anyone who shares the belief that increasing well-being in a market-oriented society must go hand in hand with ecological compatibility and improved social equity, both globally and within societies.

Dr. Johannes Wolf is professor in business administration at Hamburger Fern-Hochschule (HFH), University of Applied Sciences, Hamburg, Germany. From 2013 to 2020 he was also chancellor of the HFH.