Planetary oikos and planetary oikonomikē as a basis for implementing and managing the concept of sustainable development

Abstract

This paper explores the transformation of Aristotle's concepts of oikos and oikonomikē into modern frameworks for addressing global sustainability challenges. Aristotle's oikonomikē integrates economic, ethical and regulatory dimensions and provides a foundation for sustainable development (SD). Through a detailed analysis of the axioms of oikonomikē — the sufficiency of natural resources, the pursuit of the good life and the necessity of ecological limits — we uncover their consistency with the principles of SD. We argue that Aristotle's vision, which emphasises ethical economic behaviour and rational needs, offers crucial insights for rethinking today's economic systems. The paper introduces the concept of a planetary oikos — a metaphor and reality shaped by modern technology and globalisation — as a home for humanity that requires harmony between material, social and ecological dimensions. It further develops the idea of planetary oikonomikē, which addresses current global challenges by emphasising ethical resource management, intergenerational equity and environmental sustainability. We explore possible pathways for the planetary economy through scenario development, including incremental reform, technological change and radical systemic change. Although planetary oikonomikē remains partly utopian, its principles serve as a guide for integrated eco-social-humanitarian development. This study emphasises the need to balance technological progress, ethical leadership and ecological responsibility. Remaining Aristotle's philosophy calls for reorienting the modern economy towards a sustainable and equitable global system.