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AN ECONOMY THAT WORKS
At the heart of Prosperity without Growth is the call for a new understanding of the dynamics of the modern economy that can also incorporate the reality of ecological and resource constraints. A critical challenge for this new approach is the need to ensure economic and social stability even as relentless growth in consumer demand is attenuated.
We are addressing the ‘post-growth challenge‘ throughout our work programme. Our conceptual basis is informed in particular by our system dynamics work. We are engaging with a variety of stakeholders in business and parliament, to help developing strategies for an economy that works for everyone. In affiliation with the All-Party Parliamentary Group on Limits to Growth, and chaired by Caroline Lucas MP, we are developing a series of Private Breakfast Briefings in Parliament to address the demands facing the UK economy at a pivotal time in our history and to provide a forum for discussion on the challenge of building An economy that works — for everyone.
Ten years after the financial crisis, sluggish growth, faltering labour productivity and persistent inequalities are creating huge uncertainties for the future of advanced economies such as the UK. Under these conditions, it is challenging to meet the investment needs associated with improving people’s health and wellbeing or to honour our obligations under the Paris Agreement on climate change. The implications for social and political instability are profound. Is a return to high levels of GDP growth the only way to meet these combined challenges? Is such a return even possible? A series of briefing papers from the All-Party Parliamentary Group on the Limits to Growth aims to explore these questions and to create the space for a vital conversation aimed at building An Economy That Works – for everyone.
The second in our series of briefing papers on building An Economy That Works explores inequality in the UK. It examines the evidence for rising inequality over the last fifty years, estimates the economic welfare lost to society from an unequal distribution of incomes and addresses the critical question of managing inequality in the context of declining growth rates.
This first in our series of briefing papers on building An Economy That Works explores the underlying phenomenon of ‘secular stagnation’ – a long-term decline in the rate of growth of the Gross Domestic Product (GDP). The paper examines the evidence, explores the causes and discusses the implications of what some now call the ‘new normal’.
A Roundtable for Businesses
Business will not be successful in an economy that doesn’t work. Low productivity undermines competitiveness now, carbon intensity may undermine it in the future, and inequality and associated social tensions create instability, making Britain a potentially unattractive, risky place to do business. Collaborating with an alliance of businesses and civil society organisations, An Economy That Works, CUSP is regularly hosting Business Roundtables, working to promoting long term, structural changes needed to achieve a sustainable economy. A list of recent roundtables can be accessed below.