New Economics for a Successful Policy Paradigm

Explore a comprehensive lecture on developing a new economic policy paradigm that addresses contemporary challenges. Delve into the analysis of past political economy paradigms, including classical liberal, Keynesian/Social Democratic, and neo-liberal approaches. Discover the four key features contributing to successful policy paradigms, with a focus on the complementarity between normative foundations and economic models. Examine a proposed radical restructuring of economic theory that integrates research from the last four decades and incorporates ethical commitments beyond shared affluence, emphasizing sustainability and equal dignity. Investigate a dynamic and interdisciplinary model of the economy that expands the scope of policies and institutions under consideration, encompassing markets, governments, and civil society. Explore examples and conjectures on the potential success of this new paradigm in addressing pressing issues such as climate change and social injustice.