Post-Brexit we need to build an economy for the many

‘Home-grown solutions’

neil mcinroyYesterday, Ann (West Midlands New Economics Group) sent a link to an article by Neil McInroy (right), chief executive of the Centre for Local Economic Strategies. CLES focusses on economic development and regeneration, ‘promoting and implementing new progressive economic activities which create positive environmental, health and social outcomes’.

It was recently published in the New Start magazine under the title given and a few highlights are offered here:

“Framed by austerity, the economic reality behind many voters choosing Brexit was a future of little promise – insecure jobs, insecure public provision, insecure futures. As a result, many leave voters felt that they had little or nothing to lose. On the back of an economic recession eight years ago, insecurity and a social recession has been built . . .

“Maybe the game is up now? Brexit may now consume the energies of Whitehall and the treasury. The rhetoric and promise of more devolution from Whitehall may at best slow, if not stop. We can hope for more and deeper devolution, but I suspect this is a forlorn hope. More importantly, there is a pressing task in reducing the existing pain and hardship and addressing deteriorating community relations and cohesion.

“In this, the local economic development community, local politicians and potential Metro mayoral candidates have a responsibility. They must strive to protect and build progressive economic and social policy. They must look toward home-grown solutions, and radical innovations across public, social and commercial sectors. They must adopt a pro-social approach to local economic development. This is less about treasury-backed local agglomeration policies, boomgoggling promises and trickle down. This is about stimulating local demand, social investment, addressing city-wide inequalities and the economics of social cohesion. Progressive local solutions are out there. We need to be bold in accelerating them.

“I would hope the newly-formed commission on inclusive growth . . . (will) use its influence to broaden its narrow growth-within-austerity remit, and explore how to build a truly democratic, inclusive and resilient economy within fairly-funded public services.

“The Brexit vote was in part prompted by a sense that people felt abandoned by the economy, and the state. This has created a new local economic and political reality, and with it come great dangers. As such we must avoid deepening the social recession and accelerating the divides between the haves and the have-nots. It is imperative that we now build an economy for the many and not just the few”.

Read the whole article here: http://newstartmag.co.uk/your-blogs/post-brexit-need-economy-many/

A message from Delhi about growth blindness: a manufactured disease

An economic system created by and for moneyed interests:

devinder sharma 4Analyst Devinder Sharma writes about universities, educational institutes and business schools which are churning out graduates and postgraduates who are made to believe in the magic potion of growth. Newspapers are full of reports and quotes about growth. Finance ministers everywhere in the world swear by economic growth.

TV anchors, most of whom have not ventured out of their plush offices for years, are hung up on economic growth because that is what they have read in the university, and if they ever try to question the growth paradigm, the business house owning the channel will throw them out.

He concludes: basically, it’s all about protecting and saving your job. Whether you are a journalist, economist, academician, credit rating analyst or a politician, singing the growth chorus will help to save your job.

  • When we are told 80% of Americans live in ‘near poverty’ we just ignore it.
  • When we read that pollution levels in China and India are reaching dangerous levels, we take it as a small sacrifice that people must make for the sake of growth.
  • When the International Panel on Climate Change (IPCC) tells us that the world is getting closer to a tripping point, we go back to textbooks which tells us that every disaster is a business opportunity – meaning more growth.

The EU’s 5th Project: transitional Governance in the Service of Sustainable Societies

Olivier de SchutterOver the years, a handful of thinkers, including some economists, have begun to question the sustainability of growth economics. Their number is growing with each passing week. While the objective of this piece is not to take you through the corridors of alternative to growth economics that is building up, look at the latest initiative by Olivier De Schutter, who till recently was the UN Special Rapporteur on the Right to Food. He called for a conference: The EU’s 5th Project: transitional Governance in the Service of Sustainable Societies, which has just been held in Brussels, May 8-9, 2014. Olivier says:

We need alternatives to GDP growth as the goal of public policy, and we need alternatives to work and wealth accumulation as the driving forces in our lives. A genuine transition in the way we live is the only true path to sustainability. But it must be accompanied by a transition in the way we govern. This is Europe’s fifth project.”

 Schutter header

Booking closed well before the event as demand exceeded the number of places. Among the speakers noted were Rob Hopkins of Transition Towns, and social epidemiologist Richard Wilkinson.

The EU’s 5th Project Conference posed a few key questions. These are the basic questions that every sensible person should be asking:

There are already distinguished people working on a radical overhaul of the food system, making it more local and sustainable. There are social entrepreneurs, academicians, thinkers, writers and activists who are talking of the Economics of Happiness. There are environmental movements across the globe that are fighting for bringing in some sanity in the economic growth paradigm. Their voice is growing.

Sharma ends: “Meanwhile, stand up and be counted. It’s time to remove growth blindness. At stake is your own survival, and the future of your children. You can’t leave a dead planet behind”. #

Extracts from a post by Devinder Sharma to Ground Reality