The urgent need for an economic philosophy regarding digital transition
Rise & fall of Anglo-Saxon mainstream thought and alternative for wellbeing
DOI:
https://doi.org/10.14422/mis.v79.i155.y2021.004Keywords:
philosophy & economics, political economy, business ethics & corporative social responsibility, wellbeing economics, lobal economics & cross-cultural managementAbstract
This paper is a critical review of the foundations of the mainstream Anglo-Saxon economic thought during the welfare state economy, and its incapacity to offer a humanistic approach for digital economies due to the lack of a real economic philosophy to support it. Revelations are made about economic interventionism and its macroeconomic and econometric conceptual failures. The paper proposes the new approaches of wellbeing economics, as the final stages of digital economy, including entrepreneurship, technological improvement, talent and happiness management (including phenomena like CSR 3.0, emotional salary, organization climate and satisfaction, motivation, gamification, etc.).
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