Economy 113 posts

Prosperity isn’t just about earning more and having more, it consists in our ability to participate meaningfully in the life of society. A vital element that has gone missing for ordinary people over recent decades. We must question the fundamental structures behind our economies before they will work for everyone.

Climate Justice as economic mobilization | Seminar w Stefan Jacobsen, London 21 June 2018
Drawing on a newly published book, this talk will give a brief outline of the economic ideas that have been central in the buildup of a global movement for Climate Justice (CJ) since the 1990s. Jacobsen argues that although campaigns against the dominance of carbon markets and for divestment strengthened the CJ movement in raw numbers, these approaches also marked a move away from earlier demands for radical equality as part of transitioning away from fossil fuels.
Economic Theory for the Anthropocene | Workshop w Ioana Negru and Gaël Giraud, 3 July 2018
In the 10 years since the financial crisis, heterodox theories of the economy have flourished. On 3 July 2018, as part of a workshop, CUSP and the Institute of Advanced Studies at the University of Surrey are pleased to invite you to two talks by leading economists in the field.
Against all odds? Modelling the low-carbon transition | Blog by Martin Sers
Can renewable energy supply grow rapidly enough to both, cover societies growing energy needs and displace fossil fuel use sufficiently to keep carbon emissions below some “safe” level? — the leading question of a recent CUSP paper in Ecological Economics. In this blog, Martin Sers is summarising the findings.
Can a play start a conversation and generate multi-disciplinary projects? | Guest blog by Shirley Wardell
Few people understand how money works, and yet it has a vital part in our lives. In her new theatre play ‘Balance’, former Positive Money consultant Shirley Wardell tries to address this issue by making the topic relevant to people who watch the play — and to those who act in it.
CIRCONOMÌA | Circular Economy Festival w Tim Jackson and Kerry Kennedy, Milan/Pollenzo 24-25 May 2018
On 24 and 25 May 2018, Tim Jackson will be joining Kerry Kennedy, human rights lawyer and daughter of Robert Kennedy, for a series of dialogues on prosperity, inequality and human rights at the 3rd Circonomìa festival in Italy. Under the theme of  "growth without prosperity, prosperity without growth", Tim and Kerry will be discussing the legacy of Robert Kennedy's historic speech at the University of Kansans on the failings of measurement and vision that, after 50 years, still haunt both economic policy and our everyday life.
‘Secular stagnation’ meets the ‘GDP fetish’ | Blog by Tim Jackson
Tim Jackson introduces his new CUSP working paper ‘The Post-Growth Challenge’, in which he discusses the state of advanced economies ten years after the crisis. Our attempts to prop up an ailing capitalism have increased inequality, hindered ecological innovation and undermined stability, he argues.
The Post-Growth Challenge — Secular Stagnation, Inequality and the Limits to Growth | Working Paper No 12
Sluggish recovery in the wake of the financial crisis has revived discussion of a ‘secular stagnation’. These conditions have been blamed for rising inequality and political instability. Tim Jackson contests this view, pointing instead to a steadfast refusal to address the ‘post-growth challenge’.
The Energy-Emissions Trap | Journal Paper by Martin Sers and Peter Victor
The requirement to reduce emissions to avoid potentially dangerous climate change implies a dilemma for societies heavily dependent on fossil fuels. As renewable capacity requires energy to construct there is an initial fossil fuel cost to creating new renewable capacity. An insufficiently rapid transition to renewables, it turns out, will imply a scenario in which it is impossible to avoid either transgressing emissions ceilings or facing energy shortages.
T h i s is not all there is: Thinking utopias as ideas and practices | Blog by Will Davies
'Utopias' is one of the cross-cutting themes in CUSP, spanning our various research programmes. In this blog, Will Davies is reflecting on what the concept of utopia can offer in terms of its prefigurative potential, and how it is informing our interdisciplinary research.
Thinking About Global Prosperity Measures | Seminar with Matthew Davies, 24 May 2018
In recent years the search for post-GDP metrics has spawned a proliferation of composite indexes that aim to measure national prosperity, progress, happiness etc. In this seminar Matthew Davies will briefly introduce these indexes and how they are constructed, and then examine a range of complex issues that surround them.
Confronting inequality: basic income and the right to work | Blog by Tim Jackson
Ten years after the financial crisis, inequality in advanced economies is still rising. Tim Jackson presents the findings of a new CUSP working paper to explore potential solutions.
Confronting inequality in a post-growth world – Basic income, factor substitution and the future of work | Working Paper No 11
Piketty argued that slow growth rates inevitably lead to rising inequality. If true, this hypothesis would pose serious challenges for a ‘post-growth’ society. Fiscal responses to this dilemma include Piketty’s own suggestion to tax capital assets and more recent suggestions to provide a universal basic income that would allow even the poorest in society to meet basic needs.
System Error | New documentary w Tim Jackson investigating the paradigm of ‘economic growth’
Why are we so obsessed with economic growth, knowing that it has devastating effects on our finite planet (and ultimately us)? SYSTEM ERROR looks for answers to this principal contradiction of our time and considers global capitalism from the perspective of those who run it.
A Theory of Change Approach for Measuring Economic Welfare Beyond GDP | Working Paper No 10
It is widely acknowledged that GDP is not a suitable measure of economic welfare. In this paper, Simon Mair, Christine Corlet Walker and Angela Druckman propose a novel framework for indicator development: the ‘Theory of Change’ approach — a causal model approach in which the relationships between system inputs, activities, outputs and outcomes of the economy are explicitly articulated, and can be used to identify theoretically sound indicators for economic welfare.
‘Everything, in short, except that which makes life worthwhile’ | Blog by Tim Jackson
Fifty years on from Robert Kennedy’s historic speech on the limitations of the GDP at the University of Kansas in March 1968, Tim Jackson reflects on the failings of measurement and vision which still haunt both economic policy and our everyday life.
Towards the New Normal — How to Increase Investment in the UK’s Green Infrastructure | Report
Strategic government intervention can maximise opportunities for private green infrastructure investment, our 'Investing in the Future' project report with the Aldersgate Group finds, setting out a full list of recommendations for government and industry.
Dance Me to the End of Love—An Economics for Tomorrow | Guest blog by Alan Simpson
Any economics that defines the time given to human interaction as negative productivity has lost the plot, Alan Simpson writes in his guest blog. The economy of tomorrow must be built around people and their inbuilt kindness and decency.
Towards the New Normal | Report Launch, 12 March 2018
Increasing private investment in green infrastructure is a crucial way of meeting the UK’s strategic and environmental policy objectives cost-effectively, whilst securing more jobs, and other economic targets. This report by Aldersgate Group and CUSP provides an overview of the challenges and opportunities in the UK’s green finance market and suggests key recommendations for government, businesses and investors.
Carillion may have collapsed, but public-private partnerships can be so much more | Guest blog by Pete Barbrook-Johnson
Concerns around private companies delivering under par public services have long been aired. The collapse of Carillon, a long-standing contractor to the UK government did only worsen the picture. We should take advantage of this public ‘crisis’ in PPP, Pete Barbook-Johnson writes, not to consign them to the neoliberal history books, but to reimagine and improve them.
Craft micro-enterprises: Sustainable ‘good work’ or the precarious gig economy? | Seminar w Alice Owen, 28 Feb 2018
This seminar uses case studies of different forms of craft-microenterprises to suggest how and, perhaps, why micro-enterprises create more or less sustainable outcomes in terms of economic activity, community development, health and wellbeing and environmental impacts.
Green Finance | Alex White giving evidence to EAC, 16 January 2018
On 16 January 2018, CUSP research fellow Alex White gave evidence to the Environmental Audit Committee on their green finance inquiry. Based on our research with the Aldersgate Group, Alex White argued for the need to create an attractive low carbon investment environment in the UK if we are to see the real benefits of a growing green finance industry.
Prosperity on a finite planet | #CongresoFuturo2018 with Tim Jackson
CUSP Director Tim Jackson is joining the 7th Congreso Futuro in Chile. Set up by the Senate of Chile, with the aim to decentralize knowledge, the international 7 day event is considered to be the most important scientific dissemination event in Latin America.
Doughnut Economics | Lecture by Kate Raworth, 7 Feb 2018
Humanity’s 21st century challenge is to meet the need of all within the means of the planet. In her CUSP lecture, Kate Raworth is making a compelling plea for rethinking economic teaching, discussing the history and language of economics and the influence of Tim Jackson's work around 'Prosperity without Growth' on her own thinking.
Cleaning up the economy: Business models of environmental social enterprises | Seminar w Ellen Stenslie, 24 Jan 2018
Environmentally motivated social enterprises (ESEs) sit at the heart of business model innovation for sustainability. Yet, empirical research within this field is lacking. Ellen Stenslie will present her latest research.
Could the investment system contribute to sustainable prosperity? | Blog by Charles Seaford
While some investors put pressure on some companies to act in a more sustainable or socially just way, as yet this is at the margin. In this post, Charles Seaford suggests that this pressure could move centre stage, and that changes to, and clarifications of, fiduciary duty could play a part in this.
The Social Effects of Global Trade | New book w chapter by Simon Mair, Angela Druckman and Tim Jackson
As part of a new compilation of groundbreaking work on social indicators, Simon Mair, Angela Druckman and Tim Jackson have contributed a chapter examining how globalisation since 1990 has shaped fairness in the Western European clothing supply chain.
Social Limits To Growth – Lessons for a post-crash economy | Blog by Caroline Lucas and Tim Jackson
On 13 November 2017, the APPG on Limits to Growth hosted an evening debate at the House of Commons, to celebrate the 40th anniversary of the publication of Social Limits to Growth by Fred Hirsch. Caroline Lucas and Tim Jackson reflect on the continuing relevance of his ground-breaking work.
In Defence of Degrowth — A Comment by Simon Mair
The concept of 'degrowth' is politically infeasible, according to a recent article by Branko Milanović. In this blog, Simon Mair argues that ‘degrowth’ is no less unrealistic than the alternatives.
Climate Innovation Insights: Accelerating the transition to sustainable production systems | Edited by Geraldine Brennan
Edited by Geraldine Brennan, the second series of Climate Innovation Insights shares understanding of how to nurture and sustain cross-sector collaboration to scale up the circular economy and Accelerate the transition to sustainable production systems.
Why do we still worship at the altar of economic growth? | Blog by Donald Hirsch
Forty years ago, Fred Hirsch pointed to a crucial flaw in the emphasis on growth as a central objective in western economies. His seminal book made the case that in addition to ecological limits, there are important social constraints at play. In this blog, his son Prof Donald Hirsch is arguing that these limitations became ever more relevant today.
BBC World Service | Tim Jackson in discussion w Annie Quick, Daniel Ben-Ami and Jared Bernstein
We are told again and again that GDP growth is good for the economy; it is said to lift people out of poverty, provides jobs and investment, and improves lives. While there is general agreement about the need for growth in the developing world, what about the costs of growth in the rich world?
This new world—Reframing the distribution of rewards | Huffington Post Blog by Tim Jackson
Remember trickle-down theory? It’s the rose-tinted notion that economic growth is the only way to bring poor people out of poverty and reduce the inequality that divides society and undermines political solidarity. It’s not working and our choices are clear: Either we endure the rising instability and fractured politics of a deeply unequal world, or we build a new vision of a shared prosperity.
A fair days wage for a fair days work? | Blog by Simon Mair
The people who make our clothes are paid very low wages. We instinctively feel that this is unfair, but it can be hard to articulate why this is. Even harder, is saying what can be done about it. Summarising his recent journal article with Tim Jackson and Angela Druckman, Simon Mair uses the living wage as a basis for claims about fairness, and discuss regional collective bargaining as a solution to unfair wages.
Innovation for wellbeing—social enterprises developing creative alternatives to conventional services | Blog by Fergus Lyon
In the UK, community health and wellbeing services are experiencing pressures of increasing need and resource constraints. A new CEEDR publication in Research Policy shows how social enterprises can develop innovative responses to help address the challenges faced.
Broken promises—the engine of consumerism | Blog by Tim Jackson
Does consumerism thrive on our discontentment? Tim Jackson argues yes, the success of consumer society lies not in meeting our needs but in its spectacular ability to repeatedly disappoint us. This may seem dark, but from here we can understand why consumerism must eventually fall – and how to replace it.
Social Limits to Growth—Implications for Sustainable Prosperity | APPG Evening Debate, 13 Nov 2017
This Autumn, CUSP and the APPG on Limits to Growth will be hosting a debate to mark the 40th Anniversary of Fred Hirsch’s ‘The Social Limits to Growth’. Join us for this timely House of Commons discussion on Hirsch’s challenging analysis and its relevance today.
Navigating social and commercial objectives in social enterprise | CUSP at ESRC Festival of Social Science
Social enterprises have to find ways of having a big social impact on people and the planet while also running a good business. How is this done, and how do you get over the tension between commercial and social objectives? In this ESRC Festival of Social Science workshop, we draw on our research to give those attending the tools to understand the tensions they face, and how they can find a way to navigate through this.
The future of jobs: is decent work for all a pipe dream? | Blog by Tim Jackson
Rapid developments in technology and unpredictable economies are destabilising employment as we know it. What are the possible solutions? It’s not the demand for human labour that is disappearing, Tim Jackson argues, but the institutions and economics to deliver it.
Financial institutions and the fiduciary duty | A roundtable for businesses
The need for the investment industry to help produce a sustainable economy and a cohesive society is well understood and much discussed. There have been some successes, but as yet these are exceptions that prove the rule: our environmental and social problems remain as acute as ever. Is a more radical approach needed?
Chasing good work – reflections on The Taylor Review | By Simon Mair and Agni Dikaiou
One of the achievements of the recent Taylor review has been to breathe new life into the UK debate on good work. Going forward, this debate has to consider work in its wider social context, Simon Mair and Agni Dikaiou find; we have to think about Good Work not just as end in itself, but as a part of other systemic challenges.