Iwanami Shinsho 2027 Sustainability no Keizaitetugaku (Economics and Philosophy for Sustainability)

Economics has profoundly shaped our values and ethical perspectives. Its influence extends far beyond discussions of markets and efficiency, permeating even our everyday modes of thinking—such as notions of "individual responsibility" and "rational choice." Yet, despite this deep influence, we do not place unwavering trust in the policy proposals or predictions made by economists. In reality, we have repeatedly experienced disappointment and institutional dysfunction caused by policies advocated by experts. Nevertheless, the underlying ideologies and institutional assumptions of economics have remained largely unchanged, becoming deeply embedded in the very fabric of our social systems. As a result, in today’s global society—where institutional fatigue has become normalized—we tend to feign indifference or passive acceptance toward economics, often avoiding deeper reflection.
 
This book, The Economics and Philosophy for Sustainability, directly confronts this situation. It critically examines how modern economics has failed to meaningfully engage with the urgent challenges facing humanity and the planet—challenges such as the SDGs, climate change, poverty and hunger, inequality, social inclusion, the sustainability of social infrastructure, intergenerational responsibility, and environmental preservation. The book argues that the continued inability of economics to take these issues seriously is itself a clear manifestation of institutional fatigue.
 
Building on the author’s expertise in economics, the book delves into sustainability-related issues without compromise. By carefully explaining even fundamental concepts, it sheds light on the structural limitations and implicit biases of contemporary economics, offering readers a new and critical perspective on the discipline. In doing so, it aims to help readers accurately grasp the institutional dysfunctions that shape our current reality, and to open pathways for connecting economics with sustainability in a thoughtful and constructive way.
 
This book will be especially valuable to young students beginning their journey in economics. It provides a compass for cultivating perspectives and questions that cannot be found in conventional textbooks. Topics include: new visions for capitalism and socialism, corporate governance in the era of sustainability, the evolving role of profit-seeking firms, financing mechanisms for achieving sustained social impact, the intersection of care ethics and economics, and the tension between global climate negotiations and international order. These themes are clearly explained through accessible game-theoretic models.
 
Moreover, the book highlights how economics is deeply interconnected with adjacent fields such as law, political science, and ethics. It redefines what it truly means to study economics—not as a mere collection of interdisciplinary knowledge, but as a creative and original intellectual pursuit. As such, this book serves as an ideal starting point for reimagining and revitalizing economics for the age of sustainability.
 

(Written by MATSUSHIMA Hitoshi, Professor, Graduate School of Economics / 2025)