Revisiting Keynes in the light of the transition to circular economy

The study briefly recalls the evolution and crisis of the theory and thought of John Maynard Keynes with the rise and progressive dominance of the new liberalism paradigm. The exercise has been made for evaluating the effects of such process for the sustainability of the global economy and society. Moreover, we explored how Keynes’ contribution could be useful for the global economy in building a new paradigm of socio-economic development underpinning the transition to circular economy (CE). We also evaluated the adoption of the Global Green New Deal including a case study of Italy for the purpose of suggesting how that topical political program can be key in the CE transition. Given the urgency of environmental problems we underline the importance of the adoption of Keynesian expansionary fiscal policies “green mission oriented” with the purpose of allowing the triggering of a virtuous circle of sustainable welfare involving the Green New deal and the transition to CE. At the basis of such virtuous circle, we propose a new paradigm based on a revisited Keynesian paradigm and models of economy under the umbrella of civil economy that entail an active role and responsibility of all the societal actors (consumers, companies and Institutions). In this view, the “spirit” of Keynes in the economy, policy and society could be appreciated once more and be extremely useful along with other scholars’ contributions in accelerating the CE transition and a more sustainable development. … Read more