Well-Being Economy in the Visegrad Countries: Lessons for Degrowth-Oriented Industrial Policy

Abstract

This paper proposes a transdisciplinary approach to design future degrowth-oriented industrial policies in pursuing a well-being economy in the case of a specific growth model. Specifically, we show that the case of the Visegrad countries (Czechia, Hungary, Poland and Slovakia, V4s) is a clarion call for the degrowth literature to be much more modest and self-critical. It addresses the puzzling question of whether the future degrowth policies of the V4s are influenced by their unique industrialization path, which has historically relied on foreign capital. It proposes a transdisciplinary framework (based on political economy and ecological economics) to root degrowth-compatible industrial policies for the degrowth transition. It then analyzes the V4s' capital-dependent growth models historically to improve degrowth-oriented industrial policy research. It concludes with implications for future study on degrowth-oriented industrial policy, based on V4s' experience anticipated to remain in a wayward FDI-dependent mode, to make the well-being economy-seeking endeavor more scientifically sound.