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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’.

Abstract only
Ariane Agunsoye, Michelle Groenewald, Danielle Guizzo, and Kamal Ramburuth-Hurt

the three Ds). This is crucial for economics to contribute effectively to creating economies which promote racial justice, gender and social class equality, and stewardship of the planet for future generations. Diversifying economics is about broadening both the people and knowledge of the discipline. This requires moving from rigid hierarchies where certain groups and countries

in Reclaiming economics for future generations
Ariane Agunsoye, Michelle Groenewald, Danielle Guizzo, and Bruno Roberts- Dear

some of the students interviewed was the theme that economics did not reflect the lived experiences of students from non-privileged backgrounds. Erika, who we heard from earlier, spoke of the assumption that economics educators make about students’ social class and lived experiences: being in a classroom

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

control. However, it is vital that this approach recognises how deeply unequal the distribution of economic resources and power are in most societies and how these inequalities often operate along racialised, gendered and social class-based lines. The role of government power here is to create spaces where different groups are meaningfully able to contribute to

in Reclaiming economics for future generations
Alison Hulme

for and practice of alternative ways of living’ (2017:2592). Scarcity, abundance and morality Alongside the established narrative in which thrift slides into consumerism is the equally established and related narrative in which an age of scarcity gives way to an age of abundance. This asserts that the consumer revolution came about as a result of increased production due to industrialisation and the mechanisation it entailed, alongside increased demand for the products produced created by advertising and the Veblen-​esque desire of lower social classes to emulate

in A brief history of thrift
The Foundation Economy Collective

two ways of answering this question. The first answer is in the spirit of T.H. Marshall’s account of citizenship and social class, and implies an evolutionary history where the character of entitlements is revealed by the passage of time. The second (and in our view more credible) answer thickens the notion of citizenship by detaching it from territory and attaching it to moral choices. The practical workings of the foundational economy do indeed suggest a core set of entitlements, starting historically with the most basic, such as the entitlement to water supplies

in Foundational economy
Abstract only
Making Marxist use of Keynes
Bill Dunn

investment is a zero-sum game, and public works can raise the level of employment. Keynes’s depiction of states as able to provide rational social and economic direction in the national interest can seem embarrassingly naive. The state stands above social classes, staffed by gentlemanly intellectuals like Keynes himself. Sidestepping the wider controversies in state theory, a Marxist critique of Keynes’s view of the state cuts two ways. If, or to the extent that, unemployment is functional for capitalism, it should be understood not as a fortunate emergent property of

in Keynes and Marx
Benjamin Franklin, Samuel Smiles and Victorian moralism
Alison Hulme

economia and everyday accounting. Clausen has few issues with this stance, seeing it as encapsulating ‘a belief in the equal endowment of worth and talents among all social classes’ and the availability of dignity for all who ‘learn to seek it properly’, further arguing that ‘telling working class people that they merit the respect of others, should respect themselves, and can improve their lives through individual effort may be objectionable from the point of view of the revolutionary who wishes to abolish economic and social inequality at a stroke, but there is nothing

in A brief history of thrift
Open Access (free)
Stan Metcalfe and Alan Warde

, Cambridge, Cambridge University Press. Lie, J. (1997), ‘Sociology of markets’, Annual Review of Sociology, 23, pp. 241–60. Loasby, B. (1999), Knowledge, Institutions and Evolution in Economics, London, Routledge. Marshall, A. (1919), Industry and Trade, London, Macmillan. Marshall, T. H. (1950), Citizenship and Social Class: And Other Essays, Cambridge, Cambridge University Press. Miller, D. (2002), ‘Some things are virtual (but not the internet)’, in DuGay, P. and Pryke, M. (eds), Cultural Economy: Cultural Analysis and Commercial Life, London, Sage. Nelson, R. and

in Market relations and the competitive process
The Foundation Economy Collective

respondents directly to rank 20 services). Exhibit 5.1 presents the survey results for all respondents and then for sub-groups of respondents differentiated by gender, age and social class. The results are fascinating in several ways. When it comes to high priority, absolutely essential services and 132 Exhibit 5.1  Populus survey of UK service priorities Breakdown of responses by: Gender Priority for all respondents Male Female 18–24 65+ AB DE 1 2 3 4 5 6 7 8 1 2 3 4 5 6 7 8 1 2 3 4 5 6 7 8 1 3 2 4 5 6 10 9 1 2 3 4 6 7 5 8 1 2 3 4 5 6 7 8 1 2 3 4 5 7 6 9

in Foundational economy