‘Two Hundred Years Back, One Hundred Years Ahead: From One Revolution to Another’

Two hundred years ago, a seemingly megalomaniac and even hopeless project was started in the West: overcoming poverty by creating more prosperity. This project was called “Progress”. Two hundred years later we can only conclude that this project was more successful than we could have anticipated. However, this project also has some serious shadow sides. As humanity we have to start a new, at first sight almost equally megalomaniac project for the next hundred years: making our prosperity sustainable.

How the Baby Boomers Stole the Millenials’ Economic Future

“In The Theft of a Decade: How the Baby Boomers Stole the Millennials’ Economic Future, Joseph C. Sternberg argues that the predicament facing Millennials today – including job precarity and difficulties entering the housing market – is not of their own doing, but rather the outcome of poor policy decisions taken by the Baby Boomer generation that have only been exacerbated by the 2008 financial crisis. Sternberg weaves a compelling and rich tapestry of historical context, political decision-making and economic examples to explain the Millennial experience and to appeal to the Baby Boomer generation to recognise the consequences of their mistakes, writes Sumaiya Rahman.”

Why the Key to Happiness Might Actually Be GDP

“It’s increasingly seen as trendy and progressive to criticise GDP as a measure of the success of an economy. Indeed, New Zealand’s ‘Wellbeing Budget’ of 2019 was widely praised as a ‘world first’ for its emphasis on a range of other metrics. It wouldn’t surprise me if Rishi Sunak is encouraged to adopt similar language in his first Budget. But a closer look reveals this is often far more about presentation than substance.”

Psychologist Explains Why Economists—and Liberals—Get Human Nature Wrong

“For a fictional character, homo economicus has had a pretty good run. Since the 1950s, this mono-motivated, self-seeking figure has stalked the pages of economics textbooks, busy deciding each action according to a rational calculus of personal loss and gain. But more recently his territory has shrunk as experts on human nature have demonstrated what any decent novelist could have told them: our real selves are nothing like this.”

New Firms for A New Era

“In recent years, large corporations have become increasingly aware that they must be sensitive not only to the financial bottom line, but also to the social and environmental effects of their activities. But societies should not allow firms’ owners and their agents to drive the discussion about reforming corporate governance.”

(article by economist Dani Rodrik, author of a.o. Economics Rules; The Rights and Wrongs of the Dismal Science, 2015)

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