Renegade Economists (Part FIVE & SIX) _ on Anti-War Progressive Teach-in

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Kate Raworth: How modern economics has failed the poor and wrecked the earth while making a few people very rich

Kate Raworth spoke on October 4, 2017, at the Stockholm Resilience Centre on her new book Doughnut Economics. Published in the UK and US in April 2017 the book has already been translated into Italian, German, Spanish, Portuguese, Dutch and Japanese.

Kate Raworth says that economics dominate public policy and our decision-making for the future. It guides multi-billion-dollar investments, and shapes our responses to climate change, inequality, and other environmental and social challenges that define our times. However economic theories as taught today are centuries out of date. That’s why it is time, Raworth says, to revise our economic thinking for the 21st century.

From Kate Raworth 35 minute talk I chose her fascinating retelling of the history of economics from Adam Smith to Paul Samuelson and her indictment of neoliberalism, market fundamentalism and the universally imposed system of economic growth, expressed in the GPD, the Gross Domestic Product.

Beyond Markets and States: Polycentric Governance of Complex Economic Systems, Professor Elinor Ostrom

Elinor Ostrom is best known for her understanding and defense of the commons. As one of the rare political scientists who continued to study reality first and then come up with a theory she has personal experience with hundreds of community managed fisheries, forests and irrigation systems.

In 2009 she was the first and so far only woman who was co-recipient of the Nobel Prize in economics, in large part in acknowledgment of her work on the commons. Some say that in the year of the most severe economic crisis in our recent past the Nobel Committee had a hard time finding male economists.

Elinor Ostrom was Professor of Political Science at Indiana University. And she lived in Indiana until her death in June 2012. She and her husband, political scientist Vincent Ostrom, developed a world view that they called polycentric.

They define polycentrism, and with it the commons, as systems based on collective action, trust, cooperation and the management of common pool resources.
On February 16, 2010, Elinor Ostrom presented an updated version of her Nobel Prize lecture at Indiana University.
From a TUC Presentation.

This show was broadcast on October 15, 2017.

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The Anti-war Progressive Teach-in broaches upon some of the most highly charged subjects of our day—War & Peace, national healthcare, women’s rights, human rights, civil rights, torture, vets against the war, freedom, democracy, protest, demonstrations, etc. We scour the world to find and gather debates and presentations that are extremely informative and educational. Related subjects are also discussed. It provides key information for the uninitiated and the initiated alike.


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