Think further >> Visions for the economy
As academics, economists normally deal with the question: how should we study the economy? This assumes that we do not try to shape or control the economy, only to understand it. When working as scientists, this is a fitting point of departure. However, this is not because the economy is a completely autonomous phenomenon, which we mere mortals cannot influence. It is certainly possible to shape (parts of) the economy.
We believe that as economists, we should go beyond doing the work of scientists, and do the work of engineers, designers or dentists, as Keynes famously put it. If we refuse to 'get our hands dirty' in proposing how to structure parts of the economy, others will do it for us, generally on the basis of highly simplified notions of how the world works.
So here are some first suggestions, for inspiration. Kate Raworth's work shows how to reframe the economy (she feels we, as economists, should see ourselves as gardeners). The Mises Institute teaches about market economies, private property and sound money. Stir Magazine provides models of organisation. Schumacher College teaches skills and knowledge for an economic transition, and Christian Felber provides frameworks for government, companies and citizen action. Bruno Roche and Jay Jakub argue that the shareholder theory should be replaced by the economics of mutuality.
Donut Economics - Kate Raworth
Raworth wanted to write an alternative textbook, but ended up writing something far more readable. This book brings together an impressive array of ideas about the kind of economy we actually live in, the kind of economy we need, and what we can change in our thinking to bring this closer.
Completing capitalism - Bruna Roche and Jay Jakub
Leaders in the business world have believed that their sole responsibility is to maximize profit for shareholders. But, in this analytically rigorous and eminently practical book, Bruno Roche and Jay Jakub offer a more complete form of capitalism, one that delivers superior financial performance precisely because it mobilizes and generates human, social, and natural capital along with financial capital.
Stir - magazine and website
"Stir is fast becoming the house magazine of the cooperative commons movement."
The Schumacher "Economics for Transition" programme considers alternative economic models that were once considered marginal but could now help us radically rethink our existing financial systems.
Economy for the Common Good - Christian Felber
From the legal foundations of our economic system to the performance indicators used by companies to measure how they are doing, Christian Felber provides a series of fresh re-design ideas. The ideas he offers are at the same time very practical and very far-reaching. Highly recommended!
Prominent US economist Dean Baker proposes to take economic reasoning seriously on the health sector and the banking sector, leading from neoclassical economics to radical renewal proposals. Worth a quick read!
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