<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The current economy transcends the boundaries of sustainability, threatens the quality of life on Earth and, ultimately, of the man himself, which requires its restructuring to a sustainable one. The unsustainability of the development of society, which causes the development of the economy in a global environment, is revealed by theoretical research based on qualitative analysis of texts and documents. Subsequently, the need to change the paradigmatic basis of economic theory is explained and a new model of economy – sustainable economy – is outlined. Using logical methods and comparison of basic axioms, postulates and based on the prediction of further development, the study emphasizes that moving towards a more sustainable future presupposes the replacement of neoclassical paradigm by a new paradigm – the paradigm of sustainable development. Restructuring the economy into a sustainable one will be based on this paradigm, as confirmed by some of the outlined new economic theories and initiatives.</p>
</abstract>

The current economy transcends the boundaries of sustainability, threatens the quality of life on Earth and, ultimately, of the man himself, which requires its restructuring to a sustainable one. The unsustainability of the development of society, which causes the development of the economy in a global environment, is revealed by theoretical research based on qualitative analysis of texts and documents. Subsequently, the need to change the paradigmatic basis of economic theory is explained and a new model of economy – sustainable economy – is outlined. Using logical methods and comparison of basic axioms, postulates and based on the prediction of further development, the study emphasizes that moving towards a more sustainable future presupposes the replacement of neoclassical paradigm by a new paradigm – the paradigm of sustainable development. Restructuring the economy into a sustainable one will be based on this paradigm, as confirmed by some of the outlined new economic theories and initiatives.

Towards a New Global Development Paradigm and Restructuring the Economy Into a Sustainable

Slovak University of Agriculture in Nitra

DANUBE

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The current economy transcends the boundaries of sustainability, threatens the quality of life on Earth and, ultimately, of the man himself, which requires its...

Towards a New Global Development Paradigm and Restructuring the Economy Into a Sustainable

Published Online: Oct 15, 2021

Page range: 212 - 223

DOI: https://doi.org/10.2478/danb-2021-0014

Keywords
Economy, Restructuring, Sustainable Development, New Global Development Paradigm, Sustainable Economy

© 2021 Eva Pechočiaková Svitačová et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Towards a New Global Development Paradigm and Restructuring the Economy Into a Sustainable

Published Online: Oct 15, 2021

Page range: 212 - 223

DOI: https://doi.org/10.2478/danb-2021-0014

KeywordsEconomy, Restructuring, Sustainable Development, New Global Development Paradigm, Sustainable Economy

© 2021 Eva Pechočiaková Svitačová et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
Economy, Restructuring, Sustainable Development, New Global Development Paradigm, Sustainable Economy