Can Humankind Change the Economic Myth? Paradigm Shifts Necessary for Ecologically Sustainable Business

Abstract

Economic wealth is humankind′s most dominant myth. However, this myth must be significantly altered if economic activity and ecological sustainability are to be achieved for posterity. Changing the economic myth means shifting the paradigms which underlie it, and shifting these paradigms means changing the assumptions and values which lie at the heart of business′s relationship to the planet. Research supports the notion that widescale, fundamental change efforts are required to achieve such shifts. Examines the magnitude of the changes which probably will be necessary in order to achieve a truly sustainable society in the future. Discusses the nature of some of the scientific, economic, and management paradigm shifts which need to take place in business organizations before the myth of economic wealth can be truly modified to include Mother Earth.

Citation

Stead, W.E. and Garner Stead, J. (1994), "Can Humankind Change the Economic Myth? Paradigm Shifts Necessary for Ecologically Sustainable Business", Journal of Organizational Change Management, Vol. 7 No. 4, pp. 15-31. https://doi.org/10.1108/09534819410061351