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The new economy [or "center economy"] is composed of firms large in size and influence. Its organizations are corporate and bureaucratic; its production processes are vertically integrated through ownership and control of critical raw material suppliers and product distributors; its activities are diversified into many industries, regions, and nations... Firms in the large economy serve national and international markets, using technologically progressive systems of production and distribution…
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So how do we leave neoliberalism behind and build a more sustainable, more prosperous and more equitable society? The new economics suggests just five rules of thumb.
First is that successful economies are not jungles, they're gardens, which is to say that markets, like gardens, must be tended, that the market is the greatest social technology ever invented for solving human problems, but unconstrained by social norms or democratic regulation, markets inevitably create more problems than they solve. Climate change, the great financial crisis of 2008 are two easy examples.
I often get asked, 'If machines can do everything better, faster & cheaper, how will I survive?'
The answer is not to see it from the scarcity-based economy we're in today, but through the abundance-thesis that is coming alive.
We are close to the end of 'earning a living' to 'trade your purpose for reality'.
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