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Abstract only
Kamal Ramburuth-Hurt

to feel like they are ‘not yet in the economy’ if they have not started to work. This image underpins political narratives in some countries that seek to differentiate between people who are productive and contribute to the economy and people who don’t and drain from it. People also use the model of a container to talk about the balance between imports and exports, and about

in Reclaiming economics for future generations

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’.

Don Slater

5 Markets, materiality and the ‘new economy’ Don Slater Introduction The contemporary ‘cultural turn’ in thinking about economic processes has been deeply bound up with narratives of ‘dematerialisation’. We might start from Veblenesque stories of status symbols, and proceed through semiotic stories of ideologies and codes, through tales of post-industrial societies and service economies, through post-Fordist segmentation and lifestyling and finally on to knowledge, information or ‘weightless’ economies, ‘new economies’, global brands and digital commodities

in Market relations and the competitive process
Emily Rosamond

, however, she realised that she had not handled it. She had been too swayed by her patient’s own narrative, that ‘thirty is the new twenty’ – that it was okay to kill time in an unfulfilling relationship, to remain undecided about one’s career path, and to procrastinate on major life decisions because (so the common wisdom went) all these things happened later in life nowadays. Jay counters the tendency to

in Clickbait capitalism
Abstract only
,

narrative by highlighting that not all countries took off at the same time or pace, and it highlights examples of countries which were substantially held back by colonial rule or interference by European nations. However, it does not consider the possibility that the economic success of the European countries at this point was a direct result of their violent oppression of other countries

in Reclaiming economics for future generations
Abstract only
Alison Hulme

across geographic boundaries without worrying too much about a ‘scientific’ tracing of influence. Instead, it attempts a thematic exploration of the concept and practice of thrift via influential characters and specific eras and movements in which it has proved a particularly potent concept. This is to address Lendol Calder’s suggestion that in attempting to chart the history of thrift, historians (which I am not!) would ideally ‘find it possible to move beyond familiar rise and fall narratives in which parsimonious saving is invented by the Puritans, achieves its

in A brief history of thrift
Alison Hulme

, a complement of, or contained within capitalism. Gibson-​Graham argue that capitalism is overdetermined and that there are many non-​capitalist economic practices that exist alongside it. They explore alternative economic practices that they see as part of a ‘politics of possibility’, as part of an attempt to destabilise the hegemony of capitalocentrism by producing different representations of economic identity, and developing different narratives of economic development. This is not to fail to recognise capitalism’s huge impact –​capitalism has been incredibly

in A brief history of thrift
Posh boys take charge
Aeron Davis

finance and services in London and the South-East flourished. But elsewhere salaries were not recovering, housing costs were shooting up, precarious working conditions were on the rise, and regional communities and economies were collapsing faster than ever. The other key factor of the period was the Coalition's ability to dictate the media narrative on the economy. The national news media, as London-bound as the ministers and City economists they took their leads from, were happy to agree with the Coalition's decrees about the economy

in Bankruptcy, bubbles and bailouts
A technocrats' tale
Aeron Davis

charge and their inability to challenge wider Establishment interests. Genteel technocrats, armed with ‘expertise’ and a public service ethos, took on forceful political and financial self-interest, and lost. It was never a fair fight. Thus, technocrats backed off from major confrontation with the power nexus of political and banking elites. Technocrats gave public cover to that same nexus. They were central to a shifting crisis narrative that went from government and banker mismanagement to technical explanations of economic failure. Once the

in Bankruptcy, bubbles and bailouts
Myth in the financial sector
Jack Mosse

. Rather than the cold hard logic that I had envisioned dominating the financial world, it became clear that, like all service industries, softer ‘people skills’ were what matters. I stated to realise that in this community, who you know and how persuasive you can be, is at least as important as what you know. In his book on the financial crisis the psychoanalyst David Tuckett writes about how the crisis was caused by the circulation of narratives which were driven by what he calls ‘groupfeel’. 10 This

in The pound and the fury