Alternative Economics and Sustainable Future: Diverse Cultures/Beliefs/Values as Indispensable Factors

This article argues for a theoretical framework of alternative economics pertinent to Sustainable Development. The alternative economics requires an appropriate belief/value system based on a dynamic, sound and holistic society-specific culture (abbreviated as “Culture”). To represent the Culture-based belief/value system, a general framework for overarching Integral Harmony is introduced as an appropriate social value system for a paradigm shift toward sustainability. Such a social value system is now related to the value premises of the alternative economics. Then, the framework of alternative economics is explained in terms of basic theoretical construct that is simplified as a summary equation comprising value and real aspects. Finally, a typical working of the alternative economics is demonstrated diagrammatically as constant interactions of the value aspect and the real aspect (abbreviated as “Value-Real Interactions”).