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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’.

Open Access (free)
Stan Metcalfe and Alan Warde

rules of the market game and in providing, through the political process, the means to challenge and vary the rules in particular cases. The third reflects distributional issues in a broad sense, the possibility of a mismatch between market outcomes and social perceptions of what those outcomes should be – what Nelson calls the problem of social cohesion and human rights. Nelson concludes with an interesting taxonomy of the factors that contribute to the appraisal of the applicability of the market to specific cases. That this list is as much concerned with social as

in Market relations and the competitive process
Brototi Roy and Francesca Rhys-Williams

, Klein highlights how much pressure the ANC were under from powerful countries, the finance sector and businesses to conform. In 1955 the Freedom Charter had called for democracy and human rights, land reform, labour rights and nationalisation to address the structural economic inequalities Apartheid had created between the Black majority and White minority in the country. As the

in Reclaiming economics for future generations
Richard R. Nelson

, because it plays a major role in a number of areas of contemporary dispute about governance. As I will propose shortly, in many of these areas the collective value argued to be at stake involves basic community and human rights, which I want to treat as a distinct body of theorising in its own right. Thus in the remainder of this subsection, I focus on another strand of political philosophy, particularly Anglo-American political philosophy. 28 Richard R. Nelson From at least the times of Hobbes and Locke, theories about the importance of the state have involved

in Market relations and the competitive process

tangible issues such as human rights, nature, job security and mental health. The most basic world in microeconomics, and one to which all students will be introduced, is a smoothly functioning world where everyone behaves rationally and has all the relevant information; markets function perfectly, resulting in a ‘socially optimal’ (i.e. desirable, in the language of

in Reclaiming economics for future generations
Joe Earle, Cahal Moran, and Zach Ward-Perkins

network coverage in favour  of  government revenue maximisation. It also applies more 40  The econocracy broadly: the e­mphasis on quantifiable aspects of economic wellbeing – what economists usually term ‘welfare’ – leads to a neglect of other components of well-being. In principle, economic agents can ‘optimise’ anything, but in practice the type of mathematics used by economists means that there is a focus on material sources of well-being such as income and consumption over less tangible issues such as human rights, job security and mental health. All of these

in The econocracy
Joe Earle, Cahal Moran, and Zach Ward-Perkins

pluralism, non-discrimination, tolerance, justice, solidarity and equality between women and men prevail’. These words are not empty, as the EU has definitive mechanisms for bringing such a society about. For a country to become a member, it must have a stable democracy (including media freedom and an independent judiciary), the rule of law, respect for human rights and the abolition of the death penalty.32 Turning away from econocracy and relearning democracy requires rediscovering the importance of a wide range of non-economic values and ways of thinking. The way

in The econocracy
Open Access (free)
Crisis, reform and recovery
Shalendra D. Sharma

government immediately freed the press from the draconian constraints that had been in force under Suharto, and in a dramatic move dismissed Prabowo (Suharto’s son-in-law) from the Indonesian armed forces (Mietzner 1999, 88–9). Moreover, the Habibie administration revoked the law that limited the number of political parties to two, released political prisoners and voiced support for legal reforms – in particular, the protection of human rights (Anwar 1999, 39–43). Habibie also announced that fresh parliamentary elections (to be preceded by the rewriting of New Order

in The Asian financial crisis
Open Access (free)
Crisis, reform and recovery
Shalendra D. Sharma

the common people, who was above the fray of partisan politics, and who represented the aspirations and interests of the working people against the sectarianism and selfinterested machinations of traditional politicians. In fact, of the key party leaders, only Kim Dae-Jung could completely distance himself from the discredited Kim Young-Sam, and indeed, from earlier governments. This he did with great deftness. Second, Kim Dae-Jung’s international reputation as a champion of human rights and democracy served him well. As Bridges (2001, 41) notes, Kim Dae-Jung’s warm

in The Asian financial crisis