Love Economics – Part 1
Is an Economics of love and kindness even possible? It may seem so beyond our current context that it may seem like a dream too far. However, economics comes from the Greek word Oikos, which literally means household. Whoever heard of a household that was really flourishing that wasn’t built on love and kindness? It is true that the simple model of a household is a bit defunct when comparing it to complex economic systems, but the foundational ethical principles need not differ.
Our recent “Love Economics” event in Morecambe Bay was kicked off by the excellent Prof Imogen Tyler, head of the Sociology Department at Lancaster University, who sets out the case for the utter failure of the economics of austerity. Her devastating diagnosis of the current trickle-down economic model to (ever) deliver real human flourishing and environmental sustainability is not easy listening. Her insights and wisdom based on sound data and research set the foundations for our conversation in the current reality and pain which our economic models are causing every day. You will find in parts 2, 3 and 4 loads of reasons for hope. However, our hope must not be based in denial of what we are experiencing now, otherwise, we will go on to repeat the same mistakes over and over again.
Love Economics – Part 2
When the economic crash of 2008 happened and the banks needed bailing out, the City of Preston in Lancashire, refused to blame the poor or adopt an economics of austerity. Instead, they developed an alternative economy, which is being hailed globally as one of the most exciting possibilities for the future in terms of social justice, environmental sustainability and human flourishing. The ‘Preston Model’ has now been well publicised and is being considered by cities such as New York as a viable model for the future. It is based on a few key principles, one of which is ‘Anchor Institutions’ (which the health foundation have written about in some detail in terms of the role the NHS could play).
I could not recommend a better way to spend half an hour, if you want to be inspired and filled with hope about what is possible. I don’t think the Preston Model is perfect, nor would it claim to be, but it does begin to offer exciting options for a way ahead. Here is Cllr Matthew Brown, leader of the Council, talking about the key principles involved and how they are working in Preston. We were really happy to welcome Matthew to Morecambe Bay as we explore an economics that is fit for the future. Enjoy!
Love Economics – Part 3
I hope you have had the chance to watch/listen to the excellent input we had from Prof Imogen Tyler and Cllr Matthew Brown at the ‘Love Economics’ event in Morecambe Bay. If you haven’t done so, the I would highly recommend it!
This panel discussion, chaired by my good friend, Roger Mitchell, follows on and reflects on what both Imogen and Matthew spoke about. It is an excellent panel with some really phenomenal and helpful insights – get yourself a cuppa and continue to engage with this vital subject!
Love Economics – Part 4
We were thrilled to welcome Prof Katherine Trebeck of the ‘Wellbeing Economy’ to Morecambe Bay for our ‘Love Economics’ event. Katherine is a brilliant economist and has recently released this excellent book, ‘The Economics of Arrival’. You will be blown away by the hope of what Katherine has to say. Please make some time and let’s build a coalition of hope that things can and must change for good!