Authors : Porfirio Jimenez Rios, Karol Benitez Burbano, Mayra Tamami Poma, Veronica Gallardo and Bangeppagari Manjunatha
Abstract: Economic systems are critical drivers in the survival of nations. As humanity faces a growing natural resources scarcity, it becomes increasingly critical that we develop and adopt environmentally sustainable methods of extracting such resources. The current research focuses on analysing economic doctrines and comparing literature regarding cognitive economy and its sustainability. Since the Western way of thinking is in crisis, the industrialism paradigm loses its legitimacy and the principle of capital over humans becomes obsolete. The capitalist system, in which the free markets prioritize investing in the acquisition of technology and goods in order to increase profitability when they are humans who should be put over the chrematistic systems. For this reason, it is necessary to include environmental preservation as the core of the development of bio-economy. A cognitive economy seeks to integrate nature and knowledge while maintaining responsible consumption and good living practices. This research analyses and compares the diverse schools of economical thought, from capitalism to cognitive economy. Through this, we hope to identify the true needs of a society, rather than the illusions created by consumerism that lead to a selfish economy and a political ecology. Would a cognitive economy be sustainable in the mid to long-term? Is a cognitive economy subjective? What is the main driver of consumerism? In conclusion, the world’s economy is cyclical and since nothing is static, governments should invest in human brain research.
Porfirio Jimenez Rios, Karol Benitez Burbano, Mayra Tamami Poma, Veronica Gallardo and Bangeppagari Manjunatha, 2016. Towards a Sustainable Cognitive Economy. International Business Management, 10: 6105-6111.