Creating Alternative Economics – Hazel Henderson – 1981
Creating Alternative Economics by Hazel Henderson
This work examines the limitations of conventional economic models, particularly Gross National Product (GNP), as measures of societal well-being and progress. Hazel Henderson advocates for a shift in economic thinking, proposing alternative indicators that encompass social and environmental factors alongside traditional financial metrics. The book details a historical critique of economics, tracing its development from earlier, more holistic forms to its current, often narrowly focused state.
Historical / Cultural Context
Published in 1981, “Creating Alternative Economics” arose from the growing environmental and social movements of the 1960s and 70s. The period witnessed increasing concern about pollution, resource depletion, and social inequality. Henderson’s work reflects a broader cultural shift questioning the dominant paradigm of endless economic growth. The oil crises of the 1970s also served as a catalyst, exposing the vulnerabilities of economies dependent on finite resources. This book builds upon earlier critiques of classical economics, echoing concerns voiced by thinkers like Thorstein Veblen and Karl Polanyi, while looking towards new possibilities.
Who This Book Is For
This book is best suited for readers with an interest in economic theory, social and environmental issues, and alternative perspectives on societal progress. It is accessible to a general audience, although some familiarity with basic economic concepts will be helpful. The work has significant relevance for students of economics, sociology, and political science, as well as policymakers and activists seeking to create more sustainable and equitable systems.
Further Reading
- Small Is Beautiful: Economics as if People Mattered by E.F. Schumacher: Offers a critique of modern industrial society and proposes alternatives based on “appropriate technology” and local economies.
- The Wealth of Nations by Adam Smith: While critiqued by Henderson, understanding Smith’s foundational work is crucial for contextualizing her alternative proposals.
- The Great Transition by Hazel Henderson: A later work by Henderson, expanding on the themes explored in “Creating Alternative Economics” and outlining a vision for a sustainable future.
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