Wanted: A Manufacturing-Centered Economics, Part 1
Question: Why are we using mainstream economic ideas rooted in the 19th century to deal with 21st century challenges to our global civilization and to our national economies? No wonder political debates can seem like running in mud. Progressives are constantly being dragged down into a fantasy world of perfect markets, balanced budgets, and very limited government intervention. Neoclassical economics was not designed to deal with the complexities of a global industrial civilization that is endangering its own existence ecologically with global warming and ecosystem destruction, and economically with an out-of-control financial sector. It wasn’t designed to solve the problems of the world central economy, the United States, and its seriously declining manufacturing sector.
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mer O’Siochru is a qualified architect and valuation surveyor. She was a founder of Feasta and served on its executive committee for many years. She is director of EOS Future Design which designs and develops sustainable systems and settlements. She also manages the Feasta-led Smart Tax Network which is funded by the Department of the Environment, Heritage and Local Government to develop tax policies in areas related to the environment. She lives in Dublin.