The observed regression in economic thought pertaining to sustainability can be attributed to the neglect of two foundational theories: Stakeholder Theory, which emphasizes the importance of considering the interests of all parties impacted by business activities, not solely the shareholders, and Pigouvian Economics, which advocates for the internalization of environmental externalities. Despite the availability and potential application of these frameworks, there has been a discernible shift back to prioritizing immediate financial gains over enduring environmental sustainability. This shift has resulted in a failure to implement policies that adequately reflect the true value of environmental impacts and the interests of diverse stakeholders.

Augusto, thank you for taking the time to comment.

From my point of view, there has been a CONCERTED EFFORT to AVOID FIXING THE TRADITIONAL MARKET THINKING PROBLEM created by the externality neutrality production assumption that makes the traditional market optimal...THE FIX INTERNALIZES THOSE TWO THEORIES BY MAKING EXTERNALITY REDUCTION A PROFIT MAKING OPPORTUNITY.... Have you heard about perfect green market theory or perfect red market theory or perfect sustainability market theory? It transforms externality producing markets into profit making externality reduction markets, creating a profitable way to transition those markets toward clean markets.

Since WCED 1987, KYOTO PROTOCOL 1997, then UNCSD 2012, and now, we have been trying to manage an externality production problem instead of fixing it creating more sustainability problems in the process... The more time we take managing environmental problems the more complex the environmental problems has become since WCED 1987....

Since WCED 1987, KYOTO PROTOCOL 1997, then UNCSD 2012, and now, we have been trying to manage an externality production problem instead of fixing it creating more sustainability problems in the process...

The more time we take managing environmental problems the more complex the environmental problems has become since WCED 1987 and creates the space for traditional markets deep paradigm doubledowns.... CURRENTLY from about 2023 a shift from a linear pollution production market thinking to a circular pollution production market thinking is being sold as a solution of the problems they create, and this position can only happen under academic tunneling and a break down of academic integrity as we know the problem is externality based traditional market price distortions, not linearity as by assumption the traditional market IS CIRCULAR, and hence, avoiding to fix the problem has created the conditions where a move from business as usual to business as usual is the solution to the business as usual problem, contrary to what the WCED called for in 1987: the solution to the sustainability problem requires a move away from business as usual.

Augusto, you may find some good food for thoughts in the following articles:

Muñoz, Lucio, 2024. Sustainability thoughts 194: How can we show that the sustainable development solutions to the socio-environmental sustainability problem created by traditional market thinking by 1987 are both partial and without clear priority solutions?, In: International Journal of Education Humanities and Social Science(IJEHSS), ISSN: 2582-0745, May-June, Vol. 7, Issue 3, Pp. 6-17, India.

https://www.researchgate.net/publication/380396914_Sustainability_thoughts_194_How_can_we_show_that_the_sustainable_development_solutions_to_the_socio-environmental_sustainability_problem_created_by_traditional_market_thinking_by_1987_are_both_partial

Muñoz, Lucio, 2024. Sustainability thoughts 195: Understanding the road from sustainable development thinking to green market paradigm shift avoidance 1987-2022: What are the implications of this?, In: CEBEM-REDESMA Boletin, Año 18, Nº 6, La Paz, Bolivia.

https://www.researchgate.net/publication/380936997_Sustainability_thoughts_195_Understanding_the_road_from_sustainable_development_thinking_to_green_market_paradigm_shift_avoidance_1987-2022_What_are_the_implications_of_this

Muñoz, Lucio, 2024. Sustainability thoughts 193: Does the current move from the period of green market paradigm shift avoidance 1987-2022 to formal circular economic thinking 2023-2024 make sense in terms of long-term environmental sustainability? If not, why not?, In: International Journal of Education Humanities and Social Science(IJEHSS), ISSN: 2582-0745, May-June, Vol. 7, Issue 3, Pp. 566-578, India.

https://www.researchgate.net/publication/381608790_Sustainability_thoughts_193_Does_the_current_move_from_the_period_of_green_market_paradigm_shift_avoidance_1987-2022_to_formal_circular_economic_thinking_2023-2024_make_sense_in_terms_of_long-term_env

Muñoz, Lucio, 2022. Sustainability thought 172: What is the structure of the general Thomas Kuhn’s paradigm evolution loop when the traditional market is a golden paradigm and when it is a flawed paradigm?, In: CEBEM-REDESMA Boletin, Año 16, Nº 9, September, La Paz, Bolivia.

https://www.researchgate.net/publication/363614112_Sustainability_thought_172_What_is_the_structure_of_the_general_Thomas_Kuhn's_paradigm_evolution_loop_when_the_traditional_market_is_a_golden_paradigm_and_when_it_is_a_flawed_paradigm

Muñoz, Lucio, 2024. Sustainability thoughts 192: What are the sustainability consequences of assuming that flawed paradigms are golden paradigms? The case of the perfect traditional market, In: CEBEM-REDESMA Boletin, Año 18, Nº 4, La Paz, Bolivia.

https://www.researchgate.net/publication/379573172_Sustainability_thoughts_192_What_are_the_sustainability_consequences_of_assuming_that_flawed_paradigms_are_golden_paradigms_The_case_of_the_perfect_traditional_market

Muñoz, Lucio, 2024 Sustainability thoughts 141: Using the golden trojan paradigm theory to point out the structure and current implications of partial solutions and full solutions to the development problems detailed by the WCED in 1987 In: Sarcouncil Journal of Entrepreneurship and Business Management ISSN(Online): 2945-3720, Vol. 3, No. 11, Pp. 1-11, Philippines.

https://www.researchgate.net/publication/385495417_Sustainability_thoughts_141_Using_the_golden_trojan_paradigm_theory_to_point_out_the_structure_and_current_implications_of_partial_solutions_and_full_solutions_to_the_development_problems_detailed_by_

In 2012, a profound shift in economic thinking began to emerge as societies grappled with sustainability issues & the shift highlighted a critical examination of our reliance on traditional economic models that prioritize short-term growth over long-term ecological stability. One of the primary reasons for this regression in economic thinking is the pervasive reliance on outdated metrics, such as GDP, which often overlooks environmental costs & social well-being. Further complicating this issue is the tendency to view sustainability as a niche concern rather than an integral component of economic strategy. As policymakers and businesses prioritize immediate profits, sustainable practices are frequently sidelined, leading to a cycle of exploitation and degradation of natural resources. Additionally, the influence of powerful lobbying groups often skews the conversation, hindering the advancement of innovative, sustainable practices. While we have the tools and knowledge to forge a sustainable path forward, the inertia of old economic paradigms, coupled with resistance to change and a lack of interdisciplinary collaboration, has caused us to stagnate. Addressing these challenges requires a fundamental rethinking of our economic principles, integrating sustainability as a core value rather than an afterthought, and fostering a holistic understanding of the interconnectedness of our economies, environments, and societies.

Even the RETHINKING has been ignored as since WCED 1987 we entered a period of INCREASING academic tunneling as the WCED took a SUSTAINABILITY PROBLEM as a SUSTAINABLE DEVELOPMENT PROBLEM normalizing the VIOLATION of the THEORY-PRACTICE consistency principle as it normalized the used of sustainable development theory to address sustainability issues.... from then/1987 academic tunneling has allowed the coming of ideas that can not be defended as science based solution or the sidelines of ideas like green market paradigm shift avoidance that started in 2012, and this confusion created by the normalization of the theory-practice consistency principle violation has even open the door today 2024 to a full STATUS QUO traditional market thinking double down by maximizing academic tunneling to promote CIRCULAR pollution production thinking as the solution of the LINEAR pollution production problem or defining sustainability as sustainable development..... Below is some of the RETHINKING I have shared through the years:

Beyond Traditional Market Thinking: What is the Structure of the Perfect Green market?

https://www.researchgate.net/publication/302025169_Beyond_Traditional_Market_Thinking_What_is_the_Structure_of_the_Perfect_Green_market

Beyond Green Market Thinking: What would be the Structure of the Perfect Sustainability Market?

https://www.researchgate.net/publication/310447897_Beyond_Green_Market_Thinking_What_would_be_the_Structure_of_the_Perfect_Sustainability_Market

Beyond Both Red Socialism Thinking and Traditional Market Thinking: What is the Structure of the Perfect Red Market?

https://www.researchgate.net/publication/308886046_Beyond_Both_Red_Socialism_Thinking_and_Traditional_Market_Thinking_What_is_the_Structure_of_the_Perfect_Red_Market

From Traditional Markets to Green Markets: A Look at Markets Under Perfect Green Market Competition

https://www.researchgate.net/publication/330617155_From_Traditional_Markets_to_Green_Markets_A_Look_at_Markets_Under_Perfect_Green_Market_Competition

From Traditional Markets to Sustainability Markets: A Look at Markets Under Perfect Sustainability Market Competition

https://www.researchgate.net/publication/331344497_From_Traditional_Markets_to_Sustainability_Markets_A_Look_at_Markets_Under_Perfect_Sustainability_Market_Competition

From Traditional Markets to Red Markets: A Look at Markets Under Perfect Socially Friendly Market Competition

https://www.researchgate.net/publication/331772087_From_Traditional_Markets_to_Red_Markets_A_Look_at_Markets_Under_Perfect_Socially_Friendly_Market_Competition