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The New Economics: A Bigger Picture [Hardcover]

Andrew Simms , David Boyle
4.8 out of 5 stars  See all reviews (5 customer reviews)

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Book Description

16 Sep 2009 184407675X 978-1844076758
Economics sometimes seems to be stacked against social, environmental and individual well-being. But it doesn't have to be like this. A new approach to economics - deriving as much from Ruskin and Schumacher as from Keynes or Smith - has begun to emerge. Skeptical about money as a measure of success, this new economics turns our assumptions about wealth and poverty upside down. It shows us that real wealth can be measured by increased well-being and environmental sustainability rather than just having and consuming more things. This book is the first accessible and straightforward guide to the new economics. It describes the problems and bizarre contradictions in conventional economics as well as the principles of the emerging new economics, and it tells the real-world stories of how new economics is being successfully put into practice around the world. An essential guide to understanding new economics for all those who care about making economics work for people and planet.


Product details

  • Hardcover: 192 pages
  • Publisher: Routledge (16 Sep 2009)
  • Language: English
  • ISBN-10: 184407675X
  • ISBN-13: 978-1844076758
  • Product Dimensions: 17 x 2 x 21.6 cm
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (5 customer reviews)
  • Amazon Bestsellers Rank: 232,085 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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Review

'We face climate change, resource scarcity and economic turmoil. If all we do is complain, and seek to soften the edges of a flawed economic system, we'll end up complaining over a cliff. We need a new economy and this book creates an inspiring, believable vision of what it can be. Read it.' Caroline Lucas MEP, leader of the UK Green Party 'It was a joy to see that The New Economics consciously builds on the strong British moral and intellectual tradition of Ruskin, Belloc, Chesterton, and Schumacher. A revival and extension of this line of thinking was long overdue.' Professor Herman Daly, author of Steady-State Economics and recipient of the Honorary Right Livelihood Award (Sweden's alternative to the Nobel Prize) 'A brilliant and much-awaited book - we need Earth-sized economics, and this is a great start to understanding what's possible and why it's needed. The government needs to make it compulsory reading for every secondary school student. Graduates will find it a wonderful way to re-learn the basics.' Safia Minney MBE, Founder of People Tree 'The New Economics offers a bold and sustainable vision based on justice, not exploitation. An important call to arms.' John Hilary, Executive Director, War on Want 'This book presents a serious challenge to conventional econcomics, in particular what constitutes real wealth and the role of banks in creating or destroying it. It brings together ideas that lead to joined up solutions not sacrificing the environment in pursuit of unlimited growth and demonstrating how to increase the real quality of life for all mankind not just the privileged few.' Charles Middleton, MD, Triodos Bank UK 'This well-written, inspiring, and compact compendium is essential reading for everyone who really wants to understand what went wrong with the global economy, and what we could be doing to make it right.' Alan AtKisson, author of The ISIS Agreement and Believing Cassandra 'Provocative, timely and incisive, The New Economics exposes the failures of conventional economic thinking with humour and wisdom, and sets out the essentials of a vibrant new economy for a just and sustainable 21st century.' Oliver Tickell, Author, Kyoto2 'Through the use of engaging stories and analysis, The New Economics shows how we can, and must, look at the world in a very different way centred on people, not profit, if we are to create a sustainable future for us all.' Jessica Fries, Project Director, Accounting for Sustainability, The Household of TRH The Prince of Wales and The Duchess of Cornwall 'By twisting together the green shoots of economic unorthodoxy, The New Economics points the way to a more sensible way of doing things. ... I enjoyed it immensely.' Christian Hunt, Lead author of the Climate Safety report and Managing Director of Cheatneutral 'An excellent guide to concept of the new economics' Treehugger 'The value of this book is that it explores key economic theories through storytelling... it it doesn't just point to slightly depressing realities. Instead each chapter ... explores some New Economics-inspired solutions.' New Start Magazine 'Entertaining, eye-opening and very clearly written.' Core77.com 'The New Economics makes fascinating reading. It is must read book for anyone dismayed by the way market economics has driven us to the wall... Without doubt, it is an immensely readable book that has a visionary appeal.' Sudhirendar Sharma, D-sector.org 'Wide-ranging and intriguing connections'. Tom Morrison, Fellowship, 2009. 'Inspiring book.' Terrence Fernsler, NonProfit World, March/April 2010. 'This book is a much-needed challenge to the dominant 'Neo-liberal' or 'Washington Consensus' version of economics'. Brian Leslie, Sustainable Economics, December 2009. 'There is a new coherence and energy behind much of this thinking - which is well explored in this book.' Rob Greenland, founder, Social Business Consulting, NewStart, December 2009. 'Presents a guide to the new economics, which measures wealth in terms of increased well-being and environmental sustainability rather than just having and consuming more things.' Journal of Economic Literature, June 2010. 'They write engagingly...the book seeks to develop principles for a more sensible way forward.' Frank Stilwell, Australian OPTIONS 'Readable, concise, and informative book presents the most comprehensive account of the 'new economics' written to date' Emily Huddart Kennedy, Sustainability: Science, Practice, & Policy. 'getAbstract recommends this prescription for better economic well-being to policy makers, corporate heads and politicians who are eager for an expanded, humanistic view of the economic future' getAbstract 'This book, by two of its leading members, selects and summarises some 40 years of research and writing for the benefit of the 'general reader'' Denis Gildea, Sofia Magazine

About the Author

David Boyle is a fellow at the New Economics Foundation (nef). He played a leading role in the launch of time banks and is an author and journalist, with publications including Funny Money, The Tyranny of Numbers and Authenticity, The Little Money Book, The Money Changers, Blondel's Song and The Sum of our Discontent. Andrew Simms, author of Tescopoly, is policy director at nef and a commentator on issues like climate change and 'clone town Britain'. His other publications include Why Good Lives Needn't Cost the Earth and Ecological Debt.

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Customer Reviews

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Most Helpful Customer Reviews
5 of 5 people found the following review helpful
Format:Hardcover
As you might expect from the title, this is a book that brings together the various strands of thinking that make up the rather nebulous field of `new economics', and presents them all in one place. It's a useful introduction to the uninitiated, and a re-cap for those who have been following the movement since the days of E F Schumacher.

In a nutshell, new economics is an approach that "values real, rather than illusory wealth, and puts people and planet first." It is concerned with the health of communities and individuals, with equality and opportunity - the things that make our lives worth living - rather than economic activity and growth for its own sake.

David Boyle and Andrew Simms have based the chapters of The New Economics: A Bigger Picture around some of the paradoxes of modern economics. `Why did China pay for the Iraq war?' explores the problem of how new money is created through debt mechanisms. `Why are Cuban mechanics the best in the world?' looks at our consumption of natural resources and the fact that traditional economics makes it more expensive to fix things than to replace them. `Why do fewer people vote when there is a Wal-Mart nearby?' investigates big business and the erosion of community, something Simms has covered before in his book Tescopoly. It's a structure that keeps the book accessible and interesting - a challenge for any economics writer.

Thankfully, there are solutions to these paradoxes, and each chapter explains the distinctively 'new economics' responses to them. They range from quite simple and obvious reforms like bankruptcy measures for countries or controlling tax havens, through to radical ideas like Tradeable Energy Quotas, the citizen's income, or the `Terra' global currency. And it isn't all theory either - plenty of these ideas are tried and tested and underway, from community land trusts to social return on investment schemes.

If there's a weakness to the book, it's the timing of it. Written in the latter half of 2008, right after the collapse of the financial system, the authors somewhat underestimate the resilience of global capitalism. But that's a minor inconvenience in what is a great declaration that there is an alternative. As the authors say, "the struggle for the soul of economics is gathering pace."
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1 of 1 people found the following review helpful
By Rolf Dobelli TOP 500 REVIEWER
Format:Hardcover
Global financial crises provide opportunities to question the viability of a society's operational economics, and the 2008-2009 recession is no exception. The myopic pursuit of the dollar (or euro, pound, renminbi or ruble) has left people exhausted, depressed and stressed. The cost of that quest is environmental and societal breakdowns. Perhaps the time has come to rethink the whole proposition, say David Boyle and Andrew Simms of the New Economics Foundation. Offering some alternative ideas for global capitalism, they demonstrate why money is a poor proxy for wealth, how happiness is more important than riches and how gross domestic product measures consequences that often are not in society's best interests. The authors provide workable, real-life solutions for rebalancing economic life. So how do you get off the monetary hamster wheel and find contentment? The answer is closer to home than you think: Contribute financially, emotionally and socially to your neighborhood and community. getAbstract recommends this prescription for better economic well-being to policy makers, corporate heads and politicians who are eager for an expanded, humanistic view of the economic future.
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2 of 3 people found the following review helpful
5.0 out of 5 stars enlightening 14 Jan 2010
Format:Hardcover
I devoured this book purchased after I grasped some info about what's wrong with the current centralized currency speculation system through another Boyle's book, "The little money book". In "The New Economics" I found practical ideas that matches my perspective of common well-being. The book is a brilliant Economy related book understandable also to non-economist. Now I feel like I have to do something and I have some ideas about what can be done.
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