Going beyond WEIRD for a thriving ocean economy

Speaker: Dr. Rashid Sumaila, Institute for the Oceans and Fisheries and the School of Public Policy and Global Affairs

Conventional economics in its mainstream and business-oriented form, has too often been guided by a narrow logic of short-term profit maximization, quarterly returns, and the relentless extraction of value from nature. Dr. Sumaila argues that this model, which may be described as WEIRD economics, shaped by assumptions rooted in Western, educated, industrialized, rich, and democratic societies, is not enough to achieve regenerative ocean economies worldwide. Dr. Sumaila…