The Economics of Enough
How to Run the Economy as If the Future Matters
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- $17.99
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- $17.99
Publisher Description
Why our economy is cheating the future—and what we can do about it
The world's leading economies are facing not just one but many crises. The financial meltdown may not be over, climate change threatens major global disruption, economic inequality has reached extremes not seen for a century, and government and business are widely distrusted. At the same time, many people regret the consumerism and social corrosion of modern life. What these crises have in common, Diane Coyle argues, is a reckless disregard for the future—especially in the way the economy is run. How can we achieve the financial growth we need today without sacrificing a decent future for our children, our societies, and our planet? How can we realize what Coyle calls "the Economics of Enough"?
Running the economy for tomorrow as well as today will require a wide range of policy changes. The top priority must be ensuring that we get a true picture of long-term economic prospects, with the development of official statistics on national wealth in its broadest sense, including natural and human resources. Saving and investment will need to be encouraged over current consumption. Above all, governments will need to engage citizens in a process of debate about the difficult choices that lie ahead and rebuild a shared commitment to the future of our societies.
Creating a sustainable economy—having enough to be happy without cheating the future—won't be easy. But The Economics of Enough starts a profoundly important conversation about how we can begin—and the first steps we need to take.
PUBLISHERS WEEKLY
Coyle believes that the recent financial crises was "a catalyst for many people to ask fundamental questions about the way the economy is organized, and about the links between the economy and what kind of society we'd like," and uses her well-reasoned new effort to seriously examine those questions. Coyle (The Soulful Science), a part-time professor who runs a consulting firm specializing in technology and globalization, divides her book into Challenges, Obstacles, and a "Manifesto." With chapters "happiness," "nature," "posterity," "fairness," and "trust," she analyzes current problems; though happiness has been debated by philosophers for centuries, in the last decade, "economists have muscled into" the debate. While economic growth is essential, Coyle argues that the way it is achieved must change. She defines obstacles to that change, arguing for a broadening of what we value to include intangibles, like entertainment and nursing services. Her "Manifesto of Enough" calls for enlightened economic policies that will allow for growth and create a sustainable world. While Coyle wants to reach out to reasonable people of all political stripes, it's not hard to see where her heart is when she states that teachers contribute more socially than they are paid, and that bankers' social contribution is greatly exceeded by their pay. Photos.