Financial Crisis, nationalism and COVID-19 are all socio-economic pandemics in the last decade. Each one starts in a small corner of our world, then spreads across continents in a very short space of time. Each one is a surprise, and each one catches us unprepared. If we are to be prepared for the next pandemic or crisis, we need a different approach to economics. It has to be possible to generate cascading systemic events within our models. We argue that this requires making the importance of social interaction central to economic models. Social foundations determine the rules of the game, how we interact with others and the ultimately the resilience of the economy.
This Global Table discussed the need to put social foundations at the center of rebuilding macroeconomics and economic policy. Click here to watch the full discussion.
Image created by Catherine Cordasco. Submitted for United Nations Global Call Out To Creatives - help stop the spread of COVID-19.
The government has announced a £3bn stimulus for green buildings and for improving the energy efficiency of public buildings. At a time when we need the economy to deliver climate and social goals, this is welcome news. Currently, as much as 34% of the UK’s emissions come from buildings, in large part due to poor insulation.Read More
The destruction of nature is the driving force of the current dominant progress story, which is why we need to change the story. As more roads were paved, cars bought, and airports built, economies grew, but so did the destruction of nature.Read More
The economic impact of the Covid-19 outbreak has been immense. There has been a worldwide call to action in response to the Covid-19 pandemic and many are calling for progressive policies to ‘build back better.’ The Global Solutions Summit 2020, this year taking place virtually, seeks policy responses to major global challenges addressed by the G20, the G7 and other global governance fora.Read More