WEEK 3 Embedding Holistic Economics: For a global community

January 26 — February 13, 2009

Manfred Max-Neef, David Boyle, Colin Hines, Ralf Becker, Wolfgang Sachs

Problems with the global economy are presented in the mainstream media as those that can be managed within existing systems. There is a need for a transformation of economics if human society is to survive and prosper. The current economic crises present a real opportunity to achieve this.

Course Overview

Course teachers will outline the nature of the changes that are required both in conventional economic theory and the resulting economic structures. Participants will look at how the language and assumptions of economics have shaped the modern world and what new concepts and activities could be introduced to create a body of knowledge that promotes sustainability and equity. Participants will look at our existing money system and discuss alternatives which can facilitate a major shift of resources towards a low-carbon economy. They will look at the political, technological and cultural challenges of moving globally towards a resource-light economy. How much can be achieved by technical means? What role is there for cultural change? How can this be made to happen?

This course is intended for: anyone interested in and/or working on cultural and economic change including economists, financial advisors, researchers, journalists and cultural analysts.

Click here to download the Embedding Holistic Economics PDF flier to display or pass to a friend.

Course Details

Week 1: Developing a New Theory

Manfred Max-Neef will argue that we need to develop a whole new theoretical basis for economics to meet the challenges of the current era. There are currently two separate languages – the language of economics and the language of ecology – and they do not converge. The language of economics is attractive, and remains so, because it is politically appealing. It offers promises. It is precise, authoritative, aesthetically pleasing. Policy-makers apply the models, and if they don’t work there is a tendency to conclude that it is reality that is playing tricks. The assumption is not that the models are wrong but that they must be applied with greater rigour. A theoretical body for the new paradigm must be constructed, as well as understanding the deficiencies and limitations that support old paradigm economics, such as mechanistic assumptions and inadequate indicators of well-being..

Week 2: Localisation

Monday: Money Reform: Past and Future

David Boyle will discuss the history of money reform, and the various associated traditions – people concerned about the morality of money, people who want to make it more real, people who want to make it more available. He will give glimpses of the past and what they achieved. He will then move on to predicting the future of money: how to predict the future and what it implies about money, from the new deal to multiple currencies.

Tuesday-Wednesday: The Urgent Need For A Green New Deal

Colin Hines will explore why the current crisis in global markets — the perfect economic storm of the credit crunch, consumer over-indebtedness, falling economic activity and rising energy and food prices — can provide the opportunity to divert huge sums of money from pension funds, other forms of savings and public expenditure to pay for the enormous up front costs of the transition to a low carbon economy. In short to shift the economy from growth via unsustainable consumption, to a massive job-generating increase in economic activity that will tackle climate change and provide a sustainable haven for savings.

Thursday-Friday

Ralf Becker will discuss the present money system and its influence on our daily lives, politics and the ecology of the planet. He will focus in particular on Complementary Currencies – why we need new monetary designs and what are the criteria for their successful functioning (lecture/discussion/exercises).

Thursday: The present money system – its influence on our daily lives, politics and the ecology of the planet. This lecture and discussion will concentrate on several misconceptions about money almost everybody holds and some of the practical results of these misconceptions.
Friday: My relationship to money. The focus shifts to the problem solving potential of new money systems, in particular regional currencies. How do we create new monetary designs and what are the criteria for their successful functioning?

Week 3: The Global Challenge

Wolfgang Sachs will reflect on the implications of having a global economy that is now so large that society can no longer pretend it operates within a limitless ecosystem. Developing an economy that can be sustained within the finite biosphere requires new ways of thinking and acting. This week of the course will focus on the three major avenues to arrive at a sustainable economy. First, dematerialization points the way to a resource-light economy. Second, regeneration implies the alliance of technical means with natural flows. And third, moderation aims at living well while downscaling the power offered by the economic system. With respect to all three avenues, the necessary transition in politics, technology, and culture will be discussed

Teachers

Please note that due to unforseen circumstances, Margrit Kennedy, who was due to teach on this course, is now unable to do so. We are pleased to announce that David Boyle and Ralph Becker, both previous teachers at the College, are joining us instead.

Manfred Max-Neef is a Chilean Economist. He is author of From the Outside Looking In: Experiences in Barefoot Economics, and Human-Scale Development. He received the Right Livelihood Award in 1983.

David Boyle is an associate of the new economics foundation, the pioneering think-tank in London, and has been at the heart of the effort to introduce time banks to Britain. His most recent publicaiton is The Little Money Book.

Colin Hines was the Co-ordinator of Greenpeace International’s Economics Unit and is advisor to the Green MEP Caroline Lucas. His most recent publication is Localization – A Global Manifesto.

Ralf Becker was the Co-ordinator of Greenpeace International’s Economics Unit and is advisor to the Green MEP Caroline Lucas. His most recent publication is Localization – A Global Manifesto is coordinator of the Regional Currency Association advisory board and an advisor to a number of regional currency initiatives.

Wolfgang Sachs is a Fellow at the Wuppertal Institute for Climate, Energy and the Environment in Germany. His most recent book is Fair Future: Resource Conflicts, Security and Global Justice.

Course Fees

For businesses: One week £1,200, Two weeks £1,800, Three weeks £2,200
For individuals, NGOs & Educators: One week £700, Two weeks £1,300, Three weeks £1,800
These include accommodation, food, field trips and all teaching sessions.

Masters credits available subject to University approval.

Applying for the MSc in Holistic Science? Please see information on MSc Short Course Options here

Click here to download the Embedding Holistic Economics PDF flier to display or pass to a friend.

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