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The well-being of Europe’s citizens depends less on individual consumption and more on their social consumption of essential goods and services – from water and retail banking to schools and care homes – in what we call the foundational economy. Individual consumption depends on market income, while foundational consumption depends on social infrastructure and delivery systems of networks and branches, which are neither created nor renewed automatically, even as incomes increase. This historically created foundational economy has been wrecked in the last generation by privatisation, outsourcing, franchising and the widespread penetration of opportunistic and predatory business models. The distinctive, primary role of public policy should therefore be to secure the supply of basic services for all citizens (not a quantum of economic growth and jobs). Reconstructing the foundational has to start with a vision of citizenship that identifies foundational entitlements as the conditions for dignified human development, and likewise has to depend on treating the business enterprises central to the foundational economy as juridical persons with claims to entitlements but also with responsibilities and duties. If the aim is citizen well-being and flourishing for the many not the few, then European politics at regional, national and EU level needs to be refocused on foundational consumption and securing universal minimum access and quality. If/when government is unresponsive, the impetus for change has to come from engaging citizens locally and regionally in actions which break with the top down politics of ‘vote for us and we will do this for you’.

Ariane Agunsoye, Michelle Groenewald, Danielle Guizzo, and Bruno Roberts- Dear

time, because there are no ethnic role models in the industry, other ethnic people might want to get into that industry so they can be role models for other people. While breaking through a glass ceiling can be a motivating factor to succeed in economics, as we

in Reclaiming economics for future generations
Abstract only
Ariane Agunsoye, Michelle Groenewald, and Danielle Guizzo

act according to their subjective knowledge and preferences exhibit changeable behaviour have group identities (race, ethnicity, gender, caste, sexuality, religion) exhibit gendered behaviour

in Reclaiming economics for future generations
Open Access (free)
Crisis, reform and recovery
Shalendra D. Sharma

differentiated the late 1980s and 1990s was Suharto’s unwillingness to make prudent economic decisions when his children’s and cronies’ business interests were at stake. Indonesia’s “national car” policy is illustrative. In February 1996, Suharto announced a national car policy designed to provide competition in the automotive industry, especially to the monopoly held by the Astra Group, led by an ethnic-Chinese Indonesian entrepreneur, William Soeryadjaya, and its Japanese partners, Toyota, Daihatsu and Isuzu. The program gave a three-year exemption from import duties and

in The Asian financial crisis

identity interweave to disadvantage women in the labour market. Indigenous women and those of African origin, for example, are more likely than men from their ethnic group or men and women in the general population to earn $1 an hour or less in Bolivia, Brazil, Guatemala and Peru. 13 The structural inequalities women face are further illustrated by the gender pay gap. UN Women reports

in Reclaiming economics for future generations
Abstract only
Kamal Ramburuth-Hurt

ignorance and lack of education. One of the strongest findings in this research is that knowledge of mainstream academic economics varies by demographics such as age, ethnicity, gender, socioeconomic class and education. Women, younger, less educated and lower income people are shown to have less economic knowledge. This top-down approach has been criticised as offering a restricted

in Reclaiming economics for future generations
Alison Hulme

, and indeed capitalism more generally. As Wilk argues, moral debate about consumption is an essential and ancient part of human politics, and an inevitable consequence of the unique way human relationships with the material world have developed. Therefore, ‘there is no question that moralizing about consumption can be strategically deployed during class conflict, inter-​ethnic strife, nationalist or fundamentalist agitation, religious anti-​secularism, and even trade negotiations’ (2001:246). As McKendrick et al. point out, academics are all too easily unwitting

in A brief history of thrift
Abstract only

the partition of ethnic groups as colonial powers were dividing Africa up between them. 4 This is positive, but importantly it only focuses on the harm done to people who were enslaved and the countries that were colonised, not the economic benefits for the slave owners and colonisers. In this way, it misses a crucial part of the picture. Similarly, economics education is

in Reclaiming economics for future generations
Bill Dunn

may both have contributed to the pandemic and created the conditions where the poorest and ethnic minorities were most vulnerable. But even the immediate responses showed the possibility of action and alternative futures. The economic, ecological and health crises also demonstrate the need for international cooperation, if largely through their absence. For decades, international competition has bedevilled attempts to enforce environmental standards. There have been some successes, most obviously in the Montreal protocols limiting chlorofluorocarbons. But there

in Keynes and Marx
Problems of polysemy and idealism
Andrew Sayer

inter-firm and employment relations. Similarly, where certain economic relations are concentrated within particular ethnic groups, that may itself be a product of domination within the group or within-group asset specificities rather than simply trust (Sanghera, 1998). Trust or lack of trust may sometimes be mistakenly invoked to explain situations which have more to do with material circumstances. As philosophers note, ought implies can. Someone may fail to engage in an economic relationship not because they lack trust or are themselves untrustworthy, but because

in Market relations and the competitive process