I just read the Chapter 2 of "The New Economics of Sustainable Consumption" and this chapter mentioned some failure of the mainstream. They are as followed.
1.princing failures
The ecological modernisation approach to SC is based on a free market system which means the each people aims to satisfaction. However, our real market is different.
2.information failures
The mainstream is based on neo-classical economics which assumes that all the consumers are fully informed, rational, selfish,and weigh up all their options before choosing to make a purchase. In real society, no one can do that.
3.self-regulation failure
In the case of both green and ethical consumption, most companies will not self-restrict, which is on the opposite to the assumption.
to be continued...
