THIS POST IS FOR ALL THOSE CHINLESS WONDERS WHO BELIEVE IN PROFIT FOR THEMSELVES.
It’s no longer good enough to measure the overall wealth of a nation whilst glossing over inequality or consequential environmental degradation.
Because it is quite apparent that capitalism is stuck while the longer-term future has been transformed by the pandemic and climate change.
It has no answers to a host of problems, including disease, inequality, the digital divide, and, perhaps most blatantly, the environmental crisis the biggest problems of our time.
Rethinking the role of government nationally and in the international economy is now reaching critical a point – to put public purpose first and solve the problems that matter to people – are now the central questions for humanity.
It is imperative that responding to the climate and nature emergency is integrated across all economic activity, with an explicit commitment to moving to a more circular and resource-efficient economy.
The capacities and role of government within the economy and society, above all need to recover a sense of public purpose in order to reshape the economic development to invests in people and businesses drive prosperity, and reduce inequality.
Our economic well-being is without any doubt tied to our environmental, cultural, and social well-being.
One can say this till we are blue in the face but the Covid crisis has removed any doubt about the fundamental role of the foundational economy in the well-being of a nation. (This is the part of the economy which could not be shut down as it provides the infrastructure of everyday life)
So investing in social care, childcare, housing, energy, low carbon, and digital connectivity not only addresses the foundational needs of civilized life but can offer meaningful and rewarding careers and be harnessed for economic development.
A holistic approach to the economy, recognizing its potential for harm as well as good, demands a holistic way to measure progress.
None of the above is possible unless we find a way of committing to long-term projects that are both politically and financially sound.
Our problem is that governments are subjected to short electrical terms in office so long-term objectives are not a priority. While the electoral population pays ever-increasing taxes either to fund a project or rectify a mistake, (without any real commitment to the project in the first place) other than a general election and a new manifesto of verbal diarrhea can deserving projects be fulfilled to completion?
What if we were to introduce legal mission statements that could not be changed till achieved, ‘magnet projects’ funded not by taxation but by voluntary participation in the form of willing support in allowing citizens to support projects by buying sustainable green bonds with guaranteed returns and Loto style financial monthly prizes.
If we are to genuinely tackle the problems that we have created lets us genuinely participate by putting our money where our mouths are.
Too often overlooked in economic development.
You also might be led to believe that monetary activism is financial triage against world economic collapse but ask yourself what kind of political creatures are money printing spawning.
What we are seeing is the economy going online with businesses and organizations in receipt of public funding far from being totally transparent with online profit-seeking algorithms that are now driving a hidden non-paying tax economy.
The pandemic points forward to realizing that our economic models are not dealing with the growth of inequalities.
Money must be made to serve the people not the other way around social value
Imagine a society where everyone can have an equal say in the issues that concern them. Above all, a world, in which all the people own and share the wealth that we need in order to live. These would be enormously exciting times because, at long last, human society will have evolved to the position of being able to tackle effectively the challenges facing the modern world.
So here is your chance to contribute by suggesting your solutions or improving on the above suggestion of Mission Economics.
All human comments are appreciated. All like clicks and abuse chucked in the bin.