“All the world’s a stage,” said Shakespeare. Along with a new role for Market and State, new characters such as Household, Commons, Society, and Earth are required on stage in the 21st-century economics’ play.
Demotic Moments
Democracy is, by nature, a work in progress, and Western history has had very few occurrences when the “demos” became a politically self-conscious actor. What do these moments teach us?
Get Savvy with Systems
If supply and demand equilibrium were an economic “law,” the 1929 and 2008 financial crises would not have occurred. Rather than ready-made theories, economics needs the practical background provided by systems thinking.
Change the Goal
Conventional economics has no goal except one by default: indefinite growth. In nature, this is the principle of cancer. To get back to health, it is time to give the economy a more meaningful purpose.
Secrets of the Good Life
Can growth be equated to progress? Data show that it is not GDP growth by itself that improves people’s lives but how money is distributed, notably through investing in public infrastructures.