Original Research

A conceptual framework for inclusive economics

Arno van Niekerk
South African Journal of Economic and Management Sciences | Vol 22, No 1 | a2915 | DOI: https://doi.org/10.4102/sajems.v22i1.2915 | © 2019 Arno van Niekerk | This work is licensed under CC Attribution 4.0
Submitted: 04 December 2018 | Published: 29 November 2019

About the author(s)

Arno van Niekerk, Department of Economics and Finance, Faculty of Economics and Management Sciences, University of the Free State, Bloemfontein, South Africa


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Abstract

Background: In view of growing concerns about global inequality and economic exclusion within and between countries, the theme of ‘inclusive economics’ or ‘economic inclusivity’ is gaining significance.

Aim: In discovering a more in-depth understanding of inclusive economics, the article develops a conceptual framework to better understand both the interpretation and application of inclusive economics.

Setting: As an ideal setting, the post-global financial crisis period provides fertile ground to explore alternative economic theories and systems such as inclusive economics.

Methods: A variety of terms and theories are associated with inclusive economics, hence a conceptual and theoretical analysis, in a descriptive context, is used to clarify the theoretical demarcation of this concept.

Results: Since the concept does pose a challenge to conventional economic frameworks, a key result is that it may become a valuable addition to the range of economic thinking and proposals in solving much-needed 21st century economic challenges.

Conclusion: The article contributes towards developing a new paradigm for genuine economic progress – in theory and practice.


Keywords

Inclusive economics; Well-being economy; Sharing economy; Conceptual framework.

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