My Week

Can’t stand economists?   I often don’t care much either – and I am one!  But this week I am proud to be among the number of ‘new economists’, economists for whom human beings are actually people, and the whole reason why we engage in economic activity, and not mere dispensible cyphers in the production cycle. 

Kate Raworth, author of “Doughnut Economics – Seven ways to think like a 21st century economist” and the team at Rethinking Economics got together to issue a challenge to find an 8th way.  Contributors could use any medium but they had to tell their story in 3 minutes or less.  There were three sections, one for schools, one for universities, and one for ‘everyone else’.  I like the emphasis on the young – where better to get new ideas?

Last Friday I posted the first place University Winner, “Legal Rights for Nature” voiced over a video of beautiful New Zealand. That encouraged me to see what the other winners came up with.  You might like to see them too.  So go here for the Schools winners (great ideas from passionate young people, a joy to hear and watch – they all use video, they are young!), the University winners and Everyone else.   

If you are asking yourself why, as a non-economist, this should be of interest to you, I will draw your attention to a brilliant article in the New Economics Network of Australia (NENA) Journal by Steve Liaros “Economic Disruptions will reshape our cities”     His thesis is simple:  “Economics is about how we organise ourselves to satisfy our needs and wants. This ultimately translates into the arrangement of human settlements; the spatial relationship between living spaces, work spaces and their connection to food, water, energy and other resources needed for surviving and thriving. The economic disruptions mentioned above will transform our cities and the patterns of human settlements.”

What delighted me about Steve’s article is that it is a beautifully argued elaboration of the story of the next stage of AM, that Jeff Roorda and I outlined in our article ‘The Third Asset Management Revolution’ back in April 2018. The original graphic for that story is reproduced here.

So there you are – economists and asset managers on the same page! Who would believe it?

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