The economic crisis we face today is not only a crisis of the economy. It is also a crisis of economics. The free-market fundamentalism that attained ideological dominance in the final decades of the 20th century has been discredited by financial collapse, global imbalances, mass unemployment, and environmental degradation. To confront these challenges, we need an economics for the 21st century.
We need an economics for open minds that breaks free of the closed-minded economic dogmas of the past. We need an economics that aims to secure long-run human well-being, not an economics preoccupied with maximizing short-run output and profits. We need an economics that recognizes that we need to safeguard the Earth for our children and generations to come. We need an economics for people, the planet, and the future.
This video introduction to Econ4: 4 the people, 4 the planet, 4 the future is teeth-grindingly cheesy but the story is great and well worth listening to:
The Econ4 video feels like a commercial but not one targeted to the sophisticated Political Irony demographic (you know – smart, well read, politically active, self-referentially ironic ). Considering the lack of economic and civics education in secondary schools today, this might be what is needed to advance the public discussion. Still, I fear Econ4’s message may be way over the heads of Blue Dog Democrats, much less the Tea Party Republicans.
– Iron Filing