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When the financial crisis hit in 2007, economics students at respected institutions around the world found that theories handed down in classrooms failed to explain the reality outside, and an international movement began to demand a change in the way economics is taught. 
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When I started my life of activism I worked on political issues, ones that make the blood boil, and experienced the government and corporations trying to poison the largest aquifer in the US with radioactive waste. We fought extremely important fights and we won some battles temporarily but often ended up losing them again later when we weren’t looking or lacked organisation. Then, working in state legislature and on local politics, I soon realised that if you win it’s often a fluke — if you challenge business interests the money game is almost always stacked in their favour. This leads to a growing sense of disempowerment with our political system, which is at once undeniably realistic and at the same time a self-fulfilling prophecy.
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Economist and author Juliet Schor writes about the new economic realities we all face -- there are fewer jobs to go around, things are more expensive, and our economic model is depleting the planet.
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A value creation process that requires more than one individual can be based on following 3 arrangements or a combination of those:
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The 2008 financial crisis was more extreme and far-reaching in Iceland than elsewhere. As a result, many new grassroots organisations and political parties were formed. One of them was Alda – The Association for Sustainability and Democracy. Alda’s goal is introduce new ideas about how to deepen democracy and re-think the nature of the economy into public debate. What follows an interview with Hjalti Hrafn Hafthorsson, an elected member of Alda’s managing board.
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I was struck yesterday, as I presented my themes around Digital Bank at a conference, that there's one area I've discussed for a long time, but not blogged about much in-depth.
Axel Peigné's curator insight,
December 15, 2013 9:47 AM
Bonne analyse du futur rôle social que les banques pourraient tenir.
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My thesis is that all these things that we are describing are the seed of a new political economy, of a new system of civilization.
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On Thursday October 7, 2013, over 100 people gathered at Gleebooks in Glebe for the Australian launch of a handbook for activists called Take Back the Economy: An Ethical Guide for Transforming Our Communities. Co-author, Katherine Gibson, research professor at the Institute of Culture and Society at the University of Western Sydney, says: “The book contains many examples of collective actions that are re-shaping the way we work and conduct business so that the needs of people and the planet are met with dignity. We hope community organisations, faith groups, neighbourhoods, high schools, unions and governments will be prompted to think about actions to put the well-being of people and the planet at the centre of economies.”
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Under the present system, local assets are flowing out of the state, only to be returned at a higher cost. Capital that could be building Vermont businesses is flowing to Wall Street. Government funds are being siphoned off by the largest national banks to the detriment of local institutions and taxpayers.
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New Work is an ascent, an up-rising through the intelligent and imaginative use of a spate of startlingly innovative technologies, some of which are extremely basic, while others are miles beyond where computers are now.
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This week, the Nobel Prize for economics may have gone to three academics, but the real work of fixing our local economies was happening on the ground—as part of New Economy Week.
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I was born in the 1980s – the height of trickle down economics and Gordon Gecko – a time when the people and corporations who controlled the money and economics did it from the tops down. Today, while most of the money remains in the hands of the richest 1% of Americans, technology has unleashed the capabilities of ordinary Americans to take matters into their own hands, crafting their own livelihoods – creating, in effect, a Bottom Up economic revolution.
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We might also pause to think about the type of money or other financial exchange we are using in our daily activities. The Bitcoin has garnered a lot of press, but there is a whole host of alternative and complementary currencies being experimented with right now. Enter the MoneyLab: Coining Alternatives conference in your diary now – it is 21-22 March 2014, in Amsterdam, venue to be announced. It is an initiative of The Institute of Network Cultures.
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In 1989, Scott Adams began publishing Dilbert, a comic strip that first focused on the title character’s life at home but soon moved to the workplace. It was there that it found its groove and came to capture something essential about life in late 20th-century America.
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The critical role for economic theory is no longer simply to explain how the existing system works, but also to explore how the economic system can be changed to become more adaptive and resilient in the face of the challenges of the 21stcentury, and how it can be more directly designed to support human well-being, in the present and the future. Simultaneous changes are needed, in both the actual economy (how it functions, by what rules, how it can be made responsive to constraints) and also in economic theory.
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What would the world look like if capitalism wasn’t just all about the bottom line?
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Geoff Mulgan author of The Locust and the Bee: Predators and Creators in Capitalism's Future explains the different types of capitalism, why preparing the ground work for the next economy is essential for our economic and ecological future, what the current economic debate misses and addressing inequality in the future economy.
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This is an article about Open Source Finance. It's an idea I first sketched out at a talk I gave at the Open Data Institute in London. By 'Open Source Finance', I don't just mean open source software programmes. Rather, I'm referring to something much deeper and broader. It's a way of framing an overall change we might want to see in the financial system. To illustrate this, I set up an analogy between computer systems and economic systems, and I then explore what financial 'code' might be. I then sketch out the five pillars that could underpin an open finance movement.
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Pat Conaty - Research associate at Co-operatives UK looks at the 'commons' throughout history and argues that the 'commons' are more relevant than ever in the 2
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What do these people have in common? They are trained professionals who cannot find full-time jobs. Since 2008, they have been tenuously employed - working one-year contracts, consulting on the side, hustling to survive. They spent thousands on undergraduate and graduate training to avoid that hustle. They eschewed dreams - journalism, art, entertainment - for safer bets, only to discover that the safest bet is that your job will be contingent and disposable.
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This week, the Nobel Prize for economics may have gone to three academics, but the real work of fixing our local economies was happening on the ground—as part of New Economy Week.
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In today’s knowledge-based, global economy, leveraging internal and external talent has never been more important. Read on to see the future of the open talen
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This episode features grantee D'Maris Coffman of the Centre for Financial History talking about her organization's commitment to a New Financial History and what the fruits of their approach can tell us about modern debt crises and sustainable debt levels. She also discusses her research, funded by the Institute for New Economic Thinking, which explores fundamental questions about how Britain averted a Malthusian trap in the early nineteenth century and why the answers matter for global food security today.
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