Macromarketing, controversy and economic development : Just before and now during the global meltdown

Purpose – The purpose of this paper is to familiarize readers with the nature and scope of the current global economic crisis, its implications for economic development, and what macromarketing can contribute both to better understanding and solutions. Design/methodology/approach – The paper is a controversies‐based examination, including a selective, multi‐disciplinary literature review and personal observation with a focus on the past, the present and the likely future of economic development. Findings – The paper reports on global trends in economic development, shares prognoses, and suggests the importance of macromarketing perspectives and practices to advance individual and societal well being. Originality/value – This paper provides a fresh, multi‐disciplinary perspective on controversies vis‐à‐vis economic development, while reflecting on past perspectives and new directions for individual and societal well being. The prospects for economic development in light of the global economic crisis and macromarketing orientations are discussed in considerable detail. Some personal views on the likely future of development are also offered.