Economics (really) needs to change: Introducing ‘Wellbeing Economics’ by Nicky Pouw

By Nicky Pouw

Beneath the surface of neoclassical economics lies unwavering faith in the pursuit of big numbers: more is always better. More growth means more income, more supply and production, more employment, more demand, more investment, more growth, and so forth. Big numbers give people a certain sense of security; everything is ‘going well’ and the economy is ‘healthy’. Only when a crisis hits, such as the current COVID-19 virus, people seem to become aware of the danger that lurks in big numbers; namely, they always involve tipping points and introduce risk into other areas, such as public health or international security. By ‘tipping point’, I mean that a certain equilibrium is upset, such as the equilibrium in economic growth or the balance between supply and demand. Continue reading “Economics (really) needs to change: Introducing ‘Wellbeing Economics’ by Nicky Pouw”

Resource Grabbing in a Changing Environment

By Adwoa Yeboah Gyapong, Amod Shah, Corinne Lamain, Elyse Mills, Natacha Bruna, Sergio Coronado and Yukari Sekine | EADI/ISS Blog Series

We are living in an era where people’s daily lives are deeply intertwined with the impacts of global markets and the threats of climate change. Even good intentions for mitigating and adapting to climate change can jeopardise natural resources and rural livelihoods. These seemingly abstract issues are becoming increasingly clear through both research and the role of the media, sparking questions such as: How do attempts to address climate change prevent farmers from working their lands, or negatively affect the livelihoods of forest users? Why are fishers organising themselves to resist interventions intended to protect marine areas? How do human rights groups and indigenous communities resist the state and powerful companies despite civil society space being increasingly limited? Continue reading “Resource Grabbing in a Changing Environment”

Deal or No Deal? – ACP Countries and the Brexit

By Bernhard Tröster

Brexit is still in limbo ahead of the upcoming UK elections in December 2019. The answer to the ‘Deal or No Deal’ question has important implications not only for the UK and the EU, but also for the 79 African, Caribbean and Pacific (ACP) countries. Brexit creates much uncertainty and reduces opportunities for ACP countries. However, these risks come primarily from potential shifts in development cooperation and not so much from sudden changes in trade flows. Continue reading “Deal or No Deal? – ACP Countries and the Brexit”

Rethinking the Economy from Ground Up

By Nicky Pouw

 In the global policy and research debates on inclusive growth and inclusive development  increasing emphasis is put on the need to rethink the economy. The expiration date of the neoliberal growth model seems nearly over. False assumptions have led to false policy prescriptions, with detrimental impacts on society and nature. Instead of greater human wellbeing for all, inequality, social-economic, political and climatic risks have increased. Another great concern is that the poorest of the poor are excluded from neoliberal growth, or are at best adversely incorporated. They are not even effectively reached by development interventions. Continue reading “Rethinking the Economy from Ground Up”