The Flipping of Traditional Economic Thinking: Contrasting the Working of Dwarf Green Market Thinking with That of Green Market Thinking to Highlight Main Differences and Implications

Lucio Munoz

The Flipping of Traditional Economic Thinking: Contrasting the Working of Dwarf Green Market Thinking with That of Green Market Thinking to Highlight Main Differences and Implications

Lucio Munoz *

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The Flipping of Traditional Economic Thinking: Contrasting the Working of Dwarf Green Market Thinking with That of Green Market Thinking to Highlight Main Differences and Implications

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Abstract

From the time of Adam Smith(1776) to 2012 UNCSD Rio +20 conference we have lived in a world where government intervention in markets was not welcomed, except in very specific circumstances such as market failures, a feeling at the heart of free-market thinking. From 2012 to now June 2019, we have slowly moved to a world where permanent government intervention is not just welcomed, but also encouraged such as when governments directly intervene in markets to deal with environmental issues. This is indeed a move away from free-market thinking, and towards non-free market thinking as it represents a shift from green market solutions to dwarf green market solutions. In other words, the promotion and implementation of dwarf green market thinking like carbon pricing really require a departure from traditional economic thinking, a practice that is now accepted by today’s economists. And this raises questions such as: Has traditional economic thinking been flipped in practice when dealing with the environmental issue? If yes, what are the implications of this in terms of consumption and production in dwarf green markets? How are dwarf green markets then be expected to work?

References

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

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How to Cite This Article

Lucio Munoz. 2019. "The Flipping of Traditional Economic Thinking: Contrasting the Working of Dwarf Green Market Thinking with That of Green Market Thinking to Highlight Main Differences and Implications". Global Journal of Management and Business Research - E: Marketing GJMBR-E Volume 19 (GJMBR Volume 19 Issue E4).

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GJMBR Volume 19 Issue E4

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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Classification

GJMBR-E Classification JEL Code: M30

Submission ReceivedDecember 12, 2018
Peer Review Double Blind
Handling Editor
Accepted January 1, 2019
Published January 15, 2019

Version of record

v1.2

Issue date

July 17, 2019

Language

English

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Article Matrices

Total Score: 178

Country: Canada

Subject: Global Journal of Management and Business Research

Authors: Lucio Munoz (PhD/Dr. count: 0)

View Count (all-time): 306

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Publish Date: 2019 01, Tue

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