Economic Analysis of Institutional Change in Ancient Greece

Author(s):  
Carl Hampus Lyttkens
Philosophies ◽  
2021 ◽  
Vol 6 (4) ◽  
pp. 90
Author(s):  
Giridhari Lal Pandit

In this article I discuss the problem of how we can change our world into a wiser world that is driven by a culture of wisdom inquiry (CWI), i.e., a world that frees humanity from a looming totalitarian catastrophe. How best can we interrogate the traditional wisdom of culture (TWC) that is responsible for the academic institutions of learning, among other kinds of institutions, dogmatically and solely aiming at the acquisition of knowledge and technological prowess (technologisches koennen), instead of the promotion of wisdom and human well-being? What kind of strategic transformations of institutional design, policy and goals within diverse institutions, particularly academic institutions of learning, regionally and globally, are imperative? This paper argues from the principle of universal interconnectedness across nature/universe and the fundamental asymmetry of human well-being interests and nature’s well-being interests. From this, the development of a culture of wisdom inquiry as an overarching (allumfassend) methodology of institutional change from within at two levels of analysis is proposed, viz., (1) at the level of the ecological–economic analysis of safeguarding nature’s abundant ecosystems from human greed; and (2) at the level of the transformation of the educational, academic and political–economic institutions, as well as international institutions, that must be dedicated to human well-being.


The future of the economic analysis theory is largely determined by the developments of previous generations of researchers whose history dates back to the ancient centuries and is represented in the teachings of the thinkers from the Ancient East (Confucius), Ancient Greece (Xenophon, Plato, Aristotle), Ancient Rome (Varro, Seneca). The study of economic analysis in Russia as a special branch of scientific knowledge began only in the middle of the 19th century. Practitioners have developed theoretical bases for two historical stages, and also introduced methods and methodics of economic analysis. The third historical stage is characterized by rapid development of science based on the generalization of foreign and domestic experience. Under current conditions, economic analysis acts as a mechanism for studying economic phenomena that are in dynamics and interrelations between the conditions and factors of the business environment. The development of the economic analysis methodology was determined by a change in the paradigms of the organization of the economy and, as a consequence, institutions of management. Innovations in the field of management, production, financial and investment activities were a prerequisite and reason why reliable and complete information on the activities of economic entities was required to make management decisions and identify improvement reserves. As a result of the emergence of a new approach to the organization of economic analysis, certain methods for their implementation were proposed.


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