Miklós Antal

Macroeconomics, financial crisis and the environment: Strategies for a sustainability transition

We raise fundamental questions about macroeconomics relevant to escaping the financial-economic crisis and shifting to a sustainable economy. First, the feasibility of decoupling environmental pressure from aggregate income is considered. Decoupling as a single environmental strategy is found to be very risky. Next, three main arguments for economic growth are examined: growth as progress, growth to avoid economic instability, and growth to offset unemployment due to labor productivity improvements. For each, we offer orthodox, heterodox and new responses. Attention is paid to progress indicators, feedback mechanisms affecting business cycles, and strategies to limit unemployment without the need for growth. Besides offering an economy-wide angle, we discuss the role of housing and mortgage markets in economic cyclicality. Finally, interactions between real economic and financial-monetary spheres are studied. This includes money creation, capital allocation and trade-offs between efficiency and operating costs of financial systems. Throughout, environmental and transition implications are outlined.

Green growth and climate change: Conceptual and empirical considerations

The feasibility of green growth is studied in the context of climate change. As carbon emissions are easier to quantify than many other types of environmental pressure, it will be possible to reach a more definite conclusion about the likelihood of green growth than has been possible in the long-standing historical debate on growth versus the environment. We calculate the rate of decoupling between gross domestic product (GDP) and GHG emissions needed to achieve internationally agreed climate targets. Next, eight arguments are considered that together suggest that fast decoupling will be very difficult. Subsequently, we examine the main lines of research used by proponents of green growth to support their viewpoint, including theoretical arguments, exercises with integrated assessment models, and studies of the environmental Kuznets curve hypothesis. It will be concluded that decoupling as a main or single strategy to combine economic and environmental aims should be judged as taking a very large risk with our common future. To minimize this risk we need to seriously consider reducing our dependence on growth. This requires a fundamental change of focus in both economic research and policy. Policy relevance Currently, green growth is the only strategy of mainstream economists and policy makers to address climate change. This article demonstrates that such an exclusive focus is very risky due to the scale of the challenge and the existence of various barriers to the fast decoupling of GHG emissions from economic output. It seems that the only option to combine environmental and economic objectives is reducing the dependence of our economies on growth. Finding strategies in line with this requires a fundamental change of focus in both economic research and policy.

Nature as relationship partner: an old frame revisited

Language use that embodies a mechanistic, instrumental view of nature contributes to the environmental predicament. This paper argues that interpersonal relationships can be applied as suitable analogies and metaphors for human–nature relationships. To show that such reframing is necessary and possible, we used the Google Ngram Viewer to study how often expressions from different frames of nature were used in English language books between 1800 and 2008. As the language use of scientific publications is directly related to formal education, a similar analysis was conducted using the Scopus scientific database for 1993–2012. After presenting our numerical results, we explain why the interpersonal relationship frame is environmentally appropriate and widely applicable. It is pointed out that in both human–human and human–nature relations, complex systems are connected, change is constant, stress is unavoidable, and multiple dynamic equilibria exist. Moreover, a number of analogous psychological defense mechanisms are used, which can lead to similar systemic problems, such as unrealistic expectations, growing distance, and exploitation in the relationship. In light of these similarities, relevant theoretical and empirical results are re-examined. It is shown that the relationship frame can help understand and bring about the cognitive and behavioral changes required to improve human–nature relationships.

The “Greenest Department Competition”: an exemplary student-led project

Purpose – A student-led department greening competition brought significant change to certain departments at the Budapest University of Technology and Economics, Hungary. The purpose of the paper is to help sustainability groups at other tertiary education institutions to organize similar competitions. Design/methodology/approach – First, the approach and methodology of the competition are explained in detail. Second, results of the competition in the first three years are summarized. Third, opportunities for improvement are discussed. Fourth, potentials and limitations are reviewed. Finally, the most important success criteria are listed. Findings – Eight weeks of assisted learning and two audit-based assessments are appropriate to facilitate the greening process of departments. To successfully organize a competition, a reliable team with a core group of at least five to six experienced members is needed. Maximal effectiveness can only be achieved if local environmental leaders at departments are activat...