Summary of Way
In April 1947, an ambitious band of economists crafted a neoliberal story of the economy and, since Thatcher and Reagan came to power in the 1980s, it has dominated the international stage.
Its narrative about the efficiency of the market, the incompetence of the state, the domesticity of the household and the tragedy of the commons, has helped to push many societies towards social and ecological collapse.
It’s time to write a new economic story fit for this century – one that sees the economy’s dependence upon society and the living world. This story must recognize the power of the market—so let’s embed it wisely; the partnership of the state—so let’s hold it to account; the core role of the household—so let’s value its contribution; and the creativity of the commons—so let’s unleash their potential.
Introductory video
This video has been published by the Doughnut Economics Action Lab.
Relevance to digital tech
In the classic Doughnut model this refers to seeing the economy holistically, and we saw that as including reflections and proposals on transparency and accountability – many of which incorporate social dimensions, such as inclusion, and workforce rights. We had 16 comments that fitted here.
Comments included:
- Sustainability dashboards are compulsory AND incorporate LCA (Life-cycle Assessment)
- “Employees recognise the power that they have”
- “Global regulations and justice frameworks for online platforms”