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Statement on Building the New Economy

Wednesday, 17 July 2013 11:34 By Staff, Econ4 | Video
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We are economists who think that the economy should serve people, the planet and the future.

Some politicians and economists still cling to the old claims that bigger is better, greed is good, a fossil-fueled economy is inevitable, and inequality is efficient. A growing body of evidence has shown this model to be bankrupt.

Instead of prosperity, it is feeding ever-wider inequalities of wealth and power that erode our health and economic well-being.

Instead of full employment, it is generating monthly job growth that fails to match labor force growth.

Instead of a sustainable future for our children and grandchildren, it has brought us to the brink of an unprecedented environmental crisis, consistently overstating the costs of actions to protect our climate while understating their benefits.

Instead of a competitive and resilient economy, it has fostered the growth of "too-big- to-fail" banks and corporations whose political power threatens the integrity of our democracy itself.

We call for a new economy founded on the building blocks of a level playing field, true- cost pricing, resilience, and real democracy.

In addition to new and effective policies in the critical arenas of job creation, housing, health care and regulation, we call for support for 21st century alternatives to the centralized, unfair, and unsustainable economy of the 20th century.

A new economy is already taking root across the country. The new economy includes small businesses accountable to the communities they serve. It includes clean energy producers. It includes worker-owned cooperatives. It includes locally based farming and food markets. It includes the peer production sector that gave birth to Wikipedia, Linux, and Freecycle.

The growth of this new economy demonstrates that economic activity can flourish when guided by social benefit rather than by private profit alone.

We extend our support to all who are working to build a new economy for our century – an economy that works for people, the planet, and the future.

If you’re an economist and would like to add your name to this statement, please send us an email by This email address is being protected from spambots. You need JavaScript enabled to view it.  (This email address is being protected from spambots. You need JavaScript enabled to view it. ).

 

Randy Albelda / University of Massachusetts Boston

Gar Alperovitz / University of Maryland College Park

Hannah Appel / University of California Berkeley

Michael Ash / University of Massachusetts Amherst

Lee Badgett / University of Massachusetts Amherst

Ron Baiman / Center for Tax and Budget Accountability

Scott Baker / Common Ground – NYC

Erdogan Bakir / Bucknell University

Benjamin Balak / Rollins College

Radhika Balakrishnan / Rutgers University

Fabian Balardini / Borough of Manhattan Community College (CUNY)

Ahmet Baytas / Montclair State University

Carole Biewener / Simmons College

Marc Bilodeau / Indiana University – Purdue University Indianapolis

Cyrus Bina / University of Minnesota

Peter C. Bloch / University of Wisconsin-Madison

James K. Boyce / University of Massachusetts Amherst

Elissa Braunstein / Colorado State University

Antonio Callari / Franklin and Marshall College

Martha Campbell / SUNY Potsdam

Jessica Carrick-Hagenbarth / University of Massachusetts Amherst

Kimberly Christensen / Sarah Lawrence College

Jens Christiansen / Mount Holyoke College

Jennifer Cohen / Whitman College

J. Kevin Crocker / University of Massachusetts Amherst

James Crotty / University of Massachusetts Amherst

Omar S. Dahi / Hampshire College

Susan M. Davis / Buffalo State College

Carmen Diana Deere / University of Florida

George DeMartino / University of Denver

Geert Dhondt / John Jay College, The City University of New York

P.K. Dollar / Gem Communications

Laura Dresser / Center on Wisconsin Strategy

Marie Christine Duggan / Keene State College

Amitava Krishna Dutt / University of Notre Dame

Justin A. Elardo / Portland Community College

Gerald Epstein / University of Massachusetts Amherst

Bilge Erten / United Nations, DESA

Joshua Farley / University of Vermont

Kade Finnoff / University of Massachusetts Boston

Gerald Friedman / University of Massachusetts Amherst

Heidi Garrett-Peltier / University of Massachusetts Amherst

Barbara Garson / Author “Down the Up Escalator: How the 99% live in the Great Recession”

Armagan Gezici / Keene State College

David Gold / The New School

Jonathan P. Goldstein / Bowdoin College

Eban Goodstein / Bard College

Ilene Grabel / University of Denver

Doug Henwood / Left Business Observer, “Behind the News”

Wolfgang Hoeschele / Truman State University

Julio Huato / St. Francis College

Mary C. King / Portland State University

Mark Klinedinst / University of Southern Mississippi

Kazim Konyar / California State University, San Bernardino

Philip Kozel / Rollins College

David Laibman / City University of New York

June Lapidus / Roosevelt University

Joelle J. Leclaire / Buffalor State College, SUNY

Frederic Lee / University of Missouri Kansas City

Fernando Leiva / University at Albany (SUNY)

Charles Levenstein / University of Massachusetts Lowell

Margaret Levenstein / University of Michigan Ann Arbor

Patricia J. Lindsey / Retired

Sean MacDonald / New York City College of Technology, City University of New York

Arthur MacEwan / University of Massachusetts Boston

Stephanie Martin / Allegheny College

Peter Hans Matthews / Middlebury College

Elaine McCrate / University of Vermont

Michael Meeropol / John Jay College of Criminal Justice (CUNY)

Ralph Meima / Marlboro College Graduate School

John D. Messier / University of Maine Farmington

Peter B. Meyer / University of Louisville, The E.P. Systems Group, Inc.

John Miller / Wheaton College

Fred Moseley / Mount Holyoke College

Tracy Mott University of Denver

Ellen Mutari / The Richard Stockton College of New Jersey

Eric Nilsson / California State University San Bernardino

Jennifer Olmsted / Drew University

Shaianne Osterreich / Ithaca College

Aaron Pacitti / Siena College

Karl Petrick / Western New England University

Thomas Michael / Power The University of Montana

Paddy Quick / St. Francis College

Wendy Rayack / Wesleyan University

Stephen Resnick / University of Massachusetts Amherst

Meenakshi Rishi / Seattle University

Leopoldo Rodriguez / Portland State University

Frank Roosevelt / Sarah Lawrence College

Luis D. Rosero / Fitchburg State University

Blair Sandler / University of Massachusetts Amherst PhD, now teaching T’ai Chi

Ted P. Schmidt / SUNY Buffalo State

Markus P. A. Schneider / University of Denver

Juliet Schor / Boston College

Barry Shelley / Brandeis University

Thomas Simmons / Greenfield Community College

Douglas Smith

Bryan Snyder / Bentley University

Peter Spiegler / University of Massachusetts Boston

Howard Stein / University of Michigan Ann Arbor

Masao Suzuki / Skyline College

Pavlina R. Tcherneva / Franklin and Marshall College

Frank Thompson / University of Michigan Ann Arbor

Renee Toback / URPE

Mariano Torras / Adelphi University

Mayo Toruño / California State University San Bernardino

A. Dale Tussing / Syracuse University

Hasmet Uluorta / University of Miami

Valerie Voorheis / University of Massachusetts Amherst and Marlboro College Graduate Center

Mwangi wa Gĩthĩnji / University of Massachusetts Amherst

James Wagner / John Burrough Schools, Webster University

Scott A. Weir / Wake Technical Community College

Thomas E. Weisskopf / University of Michigan

Maggie Winslow / University of San Francisco

Yavuz Yaşar / University of Denver

 

Notes:

“inequalities of wealth and power that are eroding our health and economic well-being”: see Wilkinson and Pickett 2009.

“monthly job growth fails to outpace labor force growth”: Shierholz 2012.

“overstating the costs of action to protect our climate while understating its benefits”: Ackerman et al. 2009.

“new economy is already taking root around the country”: Alperovitz 2012.

“the new sector of peer production that created Wikipedia, Linux, and Freecycle”: Benkler 2006.

“based on … the fundamental principle that social benefit, not just private profit, should guide economic activity”: see, for example, bcorporation.net.

This piece was reprinted by Truthout with permission or license. It may not be reproduced in any form without permission or license from the source.

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