Chapter 1
Progress in Economic Thought:
Neoclassical Economics Versus Sustainable
Economics
Michael von Hauff
Abstract All scientific disciplines are characterized by continuous development
under a varying dynamic. This applies to the engineering sciences, the natural
sciences, and the humanities, as well as to economics and other scientific disciplines.
This is often referred to as scientific progress as observed in the context of the many
sub-disciplines of the individual branches of science. A somewhat bold specification
of progress in an economic sense allows scientific progress in general to be described
as follows: If the younger researchers in a discipline could know and do all that the
older generations have known and done plus just a bit more, scientific progress will
result. This chapter focuses on the progressive thinking in neoclassical economics
and the sustainable economy, which is characterized by controversy.
Keywords Neoclassical economics · Sustainable economics · Scientific
disciplines · Varying dynamic · Continuous development · Scientific progress ·
Controversy
1.1 The Problem
All scientific disciplines are characterized under various dynamics by continuous
development. This applies equally to the engineering and natural sciences, the
humanities, and social sciences, as well as for other scientific disciplines. In this
context, we often speak about the scientific progress achieved in many
sub-disciplines of a branch of science. In an analogy to the somewhat bold specification of economic progress proposed by Sturn, scientific progress can generally be
described as follows: When young scientists of a discipline know everything and can
do everything that older generations have known and done, plus some more, then we
M. von Hauff (*)
Professor für Wirtschaftspolitik und Internationale Wirtschaftsbeziehungen, Technische
Universität Kaiserslautern, Kaiserslautern, Germany
e-mail: hauff@wiwi.uni-kl.de
© Springer Nature Singapore Pte Ltd. 2020
A. Omran, O. Schwarz-Herion (eds.), Sustaining our Environment for Better Future,
https://doi.org/10.1007/978-981-13-7158-5_1
1
Progress in Economic Thought:
Neoclassical Economics Versus Sustainable
Economics
Michael von Hauff
Abstract All scientific disciplines are characterized by continuous development
under a varying dynamic. This applies to the engineering sciences, the natural
sciences, and the humanities, as well as to economics and other scientific disciplines.
This is often referred to as scientific progress as observed in the context of the many
sub-disciplines of the individual branches of science. A somewhat bold specification
of progress in an economic sense allows scientific progress in general to be described
as follows: If the younger researchers in a discipline could know and do all that the
older generations have known and done plus just a bit more, scientific progress will
result. This chapter focuses on the progressive thinking in neoclassical economics
and the sustainable economy, which is characterized by controversy.
Keywords Neoclassical economics · Sustainable economics · Scientific
disciplines · Varying dynamic · Continuous development · Scientific progress ·
Controversy
1.1 The Problem
All scientific disciplines are characterized under various dynamics by continuous
development. This applies equally to the engineering and natural sciences, the
humanities, and social sciences, as well as for other scientific disciplines. In this
context, we often speak about the scientific progress achieved in many
sub-disciplines of a branch of science. In an analogy to the somewhat bold specification of economic progress proposed by Sturn, scientific progress can generally be
described as follows: When young scientists of a discipline know everything and can
do everything that older generations have known and done, plus some more, then we
M. von Hauff (*)
Professor für Wirtschaftspolitik und Internationale Wirtschaftsbeziehungen, Technische
Universität Kaiserslautern, Kaiserslautern, Germany
e-mail: hauff@wiwi.uni-kl.de
© Springer Nature Singapore Pte Ltd. 2020
A. Omran, O. Schwarz-Herion (eds.), Sustaining our Environment for Better Future,
https://doi.org/10.1007/978-981-13-7158-5_1
1