Foundations of a sustainable market economy : guiding principles for change / Margreet Boersma-de Jong, Gjalt de Jong.
Boersma-de Jong, Margreet, author.; De Jong, Gjalt, author.
2023
HC79.E5
Available Online

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Title Foundations of a sustainable market economy : guiding principles for change / Margreet Boersma-de Jong, Gjalt de Jong.
Author Boersma-de Jong, Margreet, author.
ISBN 9783031281860 (electronic bk.)
3031281861 (electronic bk.)
9783031281853
3031281853
DOI https://doi.org/10.1007/978-3-031-28186-0
Published Cham : Palgrave Macmillan, [2023]
Copyright ©2023
Language English
Description 1 online resource (xxi, 187 pages) : illustrations (chiefly color)
Item Number 10.1007/978-3-031-28186-0 doi
Call Number HC79.E5
Dewey Decimal Classification 338.9/27
Summary The free market underpins our economy and our way of thinking around enterprise and value, but it is also a major factor in the sustainability problems that we now live with. Climate change, child labour and oil spills are just a few of the many problems associated with our economic activity and, although many companies have made an effort to produce more sustainably, the pace of change is much too slow. This engaging and accessible textbook teaches students the relationship between the economy and sustainability, assessing the hand of the free market on company behaviour and, ultimately, providing a framework for transition to a sustainable economy. Using case studies and optional assessment questions, this textbook explains to students what a market is at the macro level and then translates the effects of the market to industries and subsequently to the strategic choices of companies at the micro level. It adopts a model of 8 guiding principles that underpin the current free market economy and 8 guiding principles for the sustainable market economy. Switching these deeply held principles will be essential to any serious transition to a sustainable economy. Margreet Boersma is a Professor in Sustainable Finance and Entrepreneurship at Hanze University of Applied Sciences, Groningen, the Netherlands. She worked in organizational consultancy and healthcare consultancy before rejoining academia in 2012. Her research focuses on the factors that can increase sustainable entrepreneurship, as well as impact measurement and building sustainable relationships between contracting partners. Gjalt de Jong is Professor of Sustainable Entrepreneurship in a Circular Economy (University of Groningen, Faculty Campus Frysln). He builds on more than 30 years of experience in academia, business and management. He holds a Master of Science in Economics and a PhD in Business Administration from the University of Groningen. He is the chair and head of the department Sustainable Entrepreneurship in a Circular Economy and founder-former director of the Master of Science program Sustainable Entrepreneurship. Prior to his current position he served as a senior management consultant for KPMG and PricewaterhouseCoopers.
Bibliography, etc. Note Includes bibliographical references and index.
Access Note Access limited to authorized users.
Source of Description Online resource; title from PDF title page (SpringerLink, viewed August 3, 2023).
Added Author De Jong, Gjalt, author.
Available in Other Form Print version: 9783031281853
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Intro
Preface
Introduction
Contents
About the Authors
List of Figures
List of Tables
1 The Functioning of the Free Market
1.1 What Are Market Forces?
Consumers prioritize three essential criteria: Innovation, Quality and Price
Shareholders strive for high returns on their investments
1.2 Effects of the Compelling Hand on Business Choices
Investing in Product Leadership
Excellent Business Processes Through Cost Savings
Cost Reduction on Resources
Managing Productivity of Employees
Cuts in Salary Costs
1.3 Summary
Notes
Literature

2 The Tragedy of the Compelling Hand
2.1 Damage Caused by Product Leadership
Overexploitation
Damage to Humans, Animals and the Earth
Waste
Damage arising from a Focus on High ROI and Patent Rights
2.2 Damage arising from Cost Savings
Damage Caused by Efficient Use of Resources
Damage Caused by Managing Employee Productivity
Damage Caused by Keeping Labour Costs Low
2.3 Summary
Notes
Literature
3 Guiding Principles in Our Current Economic Model
3.1 Acting in Freedom for More Possession
Freedom to Serve One's Own Interests

Labour Specialization for Higher Productivity
A Larger Market Through Free Trade
Right of Ownership Aimed at Private Property
Monetary Value Drives Our Activities
3.2 The Employee Is a Means of Production
Employer-Employee: Who Pays, decides
People Need to Be Motivated to Be Productive
3.3 Economic Growth and Trickle Down
3.4 The Role of the Government in the Market Economy
3.5 Summary
Notes
Literature
4 Guiding Principles for a Sustainable Economy
4.1 Acting Responsibly for Greater Well-Being
Responsible Self-Interest Through Ethical Awareness

Interdisciplinary Work for Sustainable Solutions
Local Trade and International Sustainable Chains
Ownership and the Sharing Economy
Multiple Values Guide Our Activity
4.2 People Are Equal Partners in Production
Equality Between Production Partners: Who Contributes, Decides
People Are Motivated to Be of Value
4.3 Multiple Growth for All
4.4 The Role of Government in a Sustainable Market
4.5 Summary
Notes
Literature
5 The Happiness of a Sustainable Market
5.1 How the Sustainable Market Works

5.2 Translating Guiding Principles into a Sustainable Mission and Vision
5.3 Sustainable Product Innovation and Improvement
From Linear to Circular
A Sustainable Return on Investment
The Power of Marketing
5.4 Cost Savings: Making Production Processes More Sustainable
What Are Costs in the Sustainable Economy?
Multiple Cost Reduction: Sustainable Use of Resources
Equivalence: Joint Decision-Making
Equality: Everyone Contributes
5.5 Summary
Notes
Literature
Afterword: Taking Action! The Role of Individuals, Businesses and Government
Literature
Index

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