Sustainable Economies

Societal change and progress in an evolving world: Beyond the maximization logic and to the adoption of satisficing choices for sustainable development

2025-04-15T05:51:14+00:00

While globalization fosters convergence among nations, it also amplifies economic and political competition, altering balances and leading to recurrent crises within capitalism. The maximization logic alone is no longer tenable as a foundation for the decision-making process. The decisions taken by socioeconomic agents and characterized by bounded rationality, significantly influence dynamic change, and drive societal progress within the socioeconomic system—capitalism. Therefore, this conceptual paper aims to revitalize the debate on the transition from the maximization logic to the adoption of satisficing choices for sustainable development, placing itself within the open questions today on the new ways of conceiving the future, modernity, capitalism, and society. While adopting novel socio-economic paradigms may be challenging, sound governance remains crucial in addressing critical issues arising from globalization and capitalism’s autopoiesis. This paper may contribute to advancing the theoretical framework in the field of behavioral and social science by offering an insightful synthesis to better understand the complexity involved in designing effective well-being policies within a sustainable capitalistic system.

Technological improvement and economic growth: Evidence from employment generation in micro, small, and medium-sized enterprises (MSMEs) in Bangladesh

2025-05-28T07:57:12+00:00

The contribution of technological changes to economic growth in Bangladesh through the channel of employment, with a special focus on the Micro, Small, and Medium-sized Enterprises (MSMEs) sector, is explored in this study. It examines how technological progress has helped Micro, Small, and Medium-Sized Enterprises increase productivity, access new markets, and generate new jobs through secondary data from the World Bank and Ministry of Foreign Affairs (MOFA). The analysis underlines the opportunities and challenges MSMEs face in implementing novelties in technology, including infrastructure, financial availability, and technical skills. Correlation between Gross domestic product (GDP) growth and technology adoption is found, meanwhile, the relationship between unemployment rates and technological innovation is found to be negative. While impressive government initiatives exist, a few obstacles exist to the broad diffusion of technologies at all levels, such as insufficient financial access and technological infrastructure. The study provides practical policy recommendations aimed at accelerating Bangladesh’s long-term development objectives, resolving extant barriers, and encouraging technology-driven growth.