"Economics is not an exact science; it is in fact, or ought to be, something
much greater: a branch of wisdom." — E.F. Schumacher, Small is Beautiful
We are at a turning point in history. Rising temperatures are now recognized as a sign of our planet in crisis. Inequities between rich and poor, North and South, grow ever deeper. The global economy has failed in its promise to produce and deliver basic goods in an efficient manner for an expanding population, leaving increasing numbers in abject poverty.
The environmental crisis, the equity crisis, and the crisis of distributed production all have their roots in the current economic system, with implications for our culture, for our society, and for our health and well-being.
What would an economy built on principles of fairness and sustainability look like? How do we model it; where is it emerging; how do we collectively strategize to fully implement it? These are the pressing questions of our time.
The 31st Annual E. F. Schumacher Lecture Series:
click on photos to view videos
Juliet Schor Gar Alperovitz
The New Economics Institute is a US organization that uniquely combines vision, theory, action, and communication to effect a transition to a new economy -- an economy that gives priority to supporting human well-being and Earth’s natural systems. Our multidisciplinary approach employs research, applied theory, public campaigns, and educational events to describe an alternative socio-economic system that is capable of addressing the enormous challenges of our times. Our premise is that a fair and sustainable economy is possible and that ways must be found to realize it.
The New Economics Institute is launching two projects in 2012.
The first is “Strategies for a New Economy” -- a conference at Bard College, in Annandale-on-Hudson, NY, June 8-10, 2012 with eighty workshops and special guest plenary speakers. The Strategy Themes represent the positive spirit of the conference and the optimism that a new kind of economy, reflecting our highest aspirations as a people, is possible.
Our members helped build a voice for economic change.
Past membership support of the E. F. Schumacher Society, a small organization founded in 1980, allowed it to develop a solid theoretical and practical base of work, positioning it to offer positive solutions when the need for change became broadly apparent.
That time has come.
In September the European Spirituality in Economics and Society Forum (eurospes.be) convened "Responsibility in Economics and Business - The Legacy of E. F. Schumacher" in Antwerp, Belgium -- one of many events marking the Centennial of Schumacher's birth. We have posted keynote talks by Simon Trace, Barbara Wood, Susan Witt, and Stewart Wallis at our website: neweconomicsinstitute.org/schumacher
SIMON TRACE, Executive Director of Practical Action spoke on "Responsibility in Technology."
Last week, the staff at the New Economics Institute’s New York City office returned to Zuccotti Park, where Occupy Wall Street has been based for over a month. We brought a selection of the thirty years of E. F. Schumacher Lecture pamphlets (neweconomicsinstitute.org/publications) to contribute to the growing OWS library on new economic issues. And we had a chance to speak with participants.
“. . . it is hardly possible to promote the effective governance needed for a successful implementation of development policies without establishing domestic ownership over our policy agendas.”
Rehman Sobhan, Chairman of the Centre for Policy Dialogue, Bangladesh, 2011
In considering the characteristics of a new economy, the question of money arises: What is the appropriate role of money? What entity or entities should govern its issue? How much should be placed in circulation and on what basis? What determines its value once in circulation? How might its very structure favor financing for regionally-based businesses producing goods in a sustainable manner for local markets?
The men and women of the United States were once builders of boats, weavers of fabric, turners of pots, crafters of furniture, keepers of bees, operators of mills, welders of steel, creators of new technologies, and in general makers of the goods used in America. Entranced by the doctrine of efficiency of scale, bulging corporations merged, closed plants, moved production outside the U.S., and effected a loss of regional manufacturing skills.
