Sunday, February 21, 2010

Economics as if people matter

New Economics makes fascinating reading. It is must read book for anyone dismayed by the way market economics has driven us to the wall. Authors David Boyle and Andrew Simms begin by arguing that the financial markets are the epicentre of a massive system, the main purpose of which is to make its key players unimaginably rich. Further, it forgives the powerful their mistakes, and cushions them against hard times, but exhausts the rest of us and punishes and corrodes the lives of the poorer two thirds of the world.

It compares sheer diversity of the immediate crises - in credit, climate and energy - to ecological, human and spiritual crises. According to the authors, these are not usually understood as economic problems, but that is exactly what they are: a byproduct of faulty measurement and misleading values pedaled by ill-directed economic system. New economics is an approach that 'values real, rather than illusory wealth, and puts people and planet first.' It puts individuals, equality and opportunity ahead of economic activity and growth....more

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