Developing new approaches to economic policy

GDP, an outdated measure of the economy, doesn’t reflect the health of people or the planet.

Economics and economic policy need a rethink. This is clear from the scale of inequality, joblessness, insecurity and environmental disasters we see in the world. People feel left behind, impoverished and unvoiced. They are looking to ethno-nationalist strongmen to help them. Right-wing movements and governments are on the rise. As an economist who has written for many decades about debunking the neoclassical approaches to economic thinking, I think there is clear evidence that the mainstream ideas and policies no longer work.