Exploring the economic crisis from a transition management perspective

Abstract

This article explores the current economic crisis from a transition management perspective. We argue that it is a symptom of underlying persistent unsustainability in socio-economic systems which may result in profound systemic changes, i.e. transitions. Dominant regime responses to the economic crisis so far seem to focus primarily on restoring the old equilibrium. Adopting a transition management perspective, we argue that we can see the economic crisis as an accelerator in a process of fundamental systemic change and need to identify options to increase the chance that it will lead to sustainability. We note that general patterns and mechanisms can be identified in distinct transition domains (currencies, resources and governance) that enable and help scale-up sustainability alternatives. Transition management research and practice should focus on identifying and providing the necessary generic – ‘glocal governance’ – conditions under which the unsustainable regimes are discouraged and emerging sustainability transitions accelerated.