This podcast explores the movement for a new economy, from energy co-operatives in Spain to a small school redesigning the study of economics. It discusses the impact of the Other Economic Summit on alternative economics and challenges conventional economic thinking. The New Economy Coalition's strategies, such as cooperatives and community ownership, are explored. The cooperative Som Nergia revolutionizes the local energy model in Spain. The power of individuals to initiate change and tipping points in cultural and economic movements are discussed. The questioning of mainstream economics and the need for a better alternative to the current economic system are also explored.
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Quick takeaways
The movement for a new economy seeks to challenge conventional economic thinking by prioritizing people and the planet over profit, promoting alternative economic models and advocating for a shift towards measuring well-being and happiness.
The Other Economic Summit, held in 1984, marked a turning point in challenging traditional economics and provided a platform for discussing alternative economic models. It inspired organizations like the New Economics Foundation and Schumacher College to question mainstream economic theories and offer practical alternatives to the status quo.
Deep dives
Building a New Economy: The Movement for Change
The movement for a new economy aims to challenge conventional economic thinking and prioritize people and the planet over profit. Various initiatives and organizations are working towards this goal, promoting game-changing solutions based on connection, resilience, and prosperity for all. The movement advocates for alternative economic models, such as cooperatives, community and public ownership, and the solidarity economy. It challenges the assumptions of traditional economic thinking and calls for a shift towards measuring well-being and happiness, a shorter working week, decentralized banking, and sufficiency rather than unlimited growth. Despite resistance from existing power structures, the movement continues to grow and inspire people to create a more just and sustainable future.
The Other Economic Summit: Challenging Traditional Economics
The Other Economic Summit, initiated in 1984, was a turning point for challenging traditional economics. It brought together alternative economists from around the world to explore unconventional economic theories and solutions. This gathering provided a platform for discussing alternative economic models in the midst of a serious recession and social strife. The Other Economic Summit served as an inspiration and starting point for organizations like the New Economics Foundation (NEF) and Schumacher College. By questioning and critiquing mainstream economic theories, the movement continues to gain momentum and offer practical alternatives to the status quo.
Reclaiming Economics: Rethinking the Purpose of the Economy
The new economy movement aims to reclaim the field of economics and reshape its purpose. The focus is on managing the economy as a means to deliver sustainable, socially just, and flourishing lives for all. This involves challenging the notion that the economy is the ultimate goal and emphasizing its role as a vehicle for the well-being of people and the planet. The movement questions the assumptions of conventional economic thinking, such as the belief in the trickle-down theory, the need for constant economic growth, and the reliance on GDP as a measure of progress. Instead, there is a shift towards measuring well-being, advocating for a shorter working week, and decentralizing financial systems. By reframing the concept of economics, the movement aims to create an economy that serves the 99% rather than benefiting the 1%.
Turning Ideas into Action: Grassroots Initiatives and Global Collaboration
The movement for a new economy is not just a theoretical concept but a practical endeavor. Grassroots initiatives worldwide are implementing transformative strategies to challenge the power imbalances and address issues like economic inequality, environmental injustice, and racism. Examples include worker-owned cooperatives, community land trusts, and locally generated sustainable energy initiatives. These initiatives demonstrate that change is possible at the local level and inspire others to take action. Furthermore, gatherings like the New Economy and Social Innovation Forum (Nesee) provide platforms for collaboration, knowledge-sharing, and collective action among diverse new economy movements. Through global cooperation and grassroots initiatives, the movement for a new economy is making strides towards creating a more inclusive, sustainable, and just world.
Bellowing out in the songs of eco-village choirs and reverberating down city streets through the chants of the 99%, the call for a new economy echoes out over the dying gasps of late capitalism. From energy co-operatives in Spain that are literally bringing power to the local level, to a small school hidden deep in the English moors that is redesigning the study of economics, to a vast coalition in North America that is challenging domination by the 1%, this episode of Upstream explores the movement for a new economy. Our story begins in 1984, just outside of the G7 World Economic Summit in London, where a small group convened a counter summit to challenge the ideas and theories that dominated mainstream economics. We follow the ripples of this seminal event as they radiate out through the world and on into our current era of Trump & Brexit. This lineage traces back to the work of the renegade economist E. F. Schumacher (1911-1977). You'll hear from him, as well as many of the other people and organizations on the cutting-edge of this broad movement that is working to revolutionize the way we think about what the economy is, the way economics is taught, and the way we embody new economics in practice. Featuring: Tim Crabtree - Senior Lecturer at Schumacher College Aniol Esteban - Program Director of The New Economics Foundation E. F. Schumacher - From the archives of the Schumacher Center for New Economics Satish Kumar - Founder of Schumacher College & Editor of Resurgence & Ecologist Magazine Jonathan Dawson - Coordinator of the Economics for Transition M. A. Program at Schumacher College Kate Raworth - Author of Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist Katherine Trebeck - Senior Researcher at Oxfam Eli Feghali - Director of Communications and Online Organizing for the New Economy Coalition Andres Montesinos - Coordinator at Som Energia Isabel Benitez - Coordinator of the New Economy & Social Innovation Forum Music: Lanterns (theme music) Amonie Tapes and Topographies Owu Kou Woo Haunted Haus Cover image by Robert Raymond Also, don't forget to subscribe, rate, and review the show on iTunes. https://itunes.apple.com/us/podcast/upstream/id1082594532?mt=2
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