economic thought, Economy

What is New Economics ?

New economics does not accept the orthodox theory that has dominated economics for the past several decades that humans are perfectly rational, markets are perfectly efficient, institutions are optimally designed and economies are self-correcting equilibrium systems that invariably find a state that maximises social welfare...

Capitalism, Climate

Climate crisis: We are the system that needs to change

Yet to solve the major environmental problems the world now faces, we actually need to do both – to change the world and ourselves. In fact, it is even more nuanced than that – because changing ourselves is a prerequisite for changing the world...

by Incomesco
Sustainable Development Goals

Inclusive Development: Deed or Greed !

Development or Greed!  Development seems like a buzz word, which is a never-ending myth. There is no single and a unanimous definition and has a vague meaning from personal development to physical infrastructure. Indeed, the meaning of development may  vary as per the needs and preferences of societies and individuals. Besides, the approach of development is an important path which is based on theory or practises to achieve the best possible objectives. However,… Continue reading Inclusive Development: Deed or Greed !

Climate

Climate and Inequality : It’s Time to Create a New Economy

I stand with the climate striking students – it's time to create a new economy Striking for the climate. Paapaya/Shutterstock Julia K. Steinberger, University of Leeds I initiated a letter of support to climate striking students – an English version of the German letter coordinated by ecologist Gregor Hagerdorn, signed by more than 1,000 academics… Continue reading Climate and Inequality : It’s Time to Create a New Economy

cooperative

Cooperative: Ownership Matters

The Labour Party of United Kingdom is probably the first political party to oppose neo-liberalism because of "anaemic growth, stagnant wages and productivity, stark inequality, low investment, indebted consumer, frequently bubbling asset" and climate severity ( Lawrence, Pendleton and Mahmoud, 2018 ).  According the New Economic Foundation "The flaws in the neoliberal model came to… Continue reading Cooperative: Ownership Matters

Capitalism, cooperative, Publications

COOPERATIVE: Ideal for an Egalitarian Big Society

A wave of thoughts came into my mind about the new economy after reading some mind-blowing books written by Amartya Sen, Joseph Stiglitz, Robert Shiller, Thomas Picketty, Jeffery Shacks and Paul Collier. They have put the global population – who have very limited access to the resources - at the centre of their debate and raised a concern… Continue reading COOPERATIVE: Ideal for an Egalitarian Big Society