27th March: available here from 1.00pm
The presumption behind many economic policy initiatives is that the solution is more economic growth. Yet how does this square with the state of the planet? In this talk, Stevie Downes examines dominant economic thinking and explores alternatives.
If we don’t act now, I don’t think that capitalism will be around in 50 years. So wrote Gillian Tett of the Financial Times (FT 7/8 Sept 2019). She argued that corporate leaders need to stop focusing on short-term shareholder returns and focus on long-term values as defined by employees, customers and communities.
Martin Wolf, in the same paper, also stated that “business must make a profit, but should serve a purpose too” (18 Sept 2019) because if capitalism is not seen to be working for everyone, it will destroy itself. He refers to our current economic system as ‘Rentier Capitalism’ because too many at the top are becoming wealthy at everyone else’s expense. Yet there is record-high employment in the USA and the UK. Many world economies are growing, so isn’t this good news? It doesn’t feel this way for many people. Wage growth is slow, productivity and interest rates are low, inequality has increased significantly and there are worries about economic slow-down. Positive Money has a new report out called Escaping Growth Dependency. We are going to examine dominant economic thinking and explore alternatives.
Find out more: positivemoney.org