In many advanced and emerging economies economic prosperity is becoming decoupled from social prosperity in ways that cannot be captured by conventional economic theory. This occurs, for example, when the process of globalization leads to the disruption of local communities or when the process of automation and AI leaves people disempowered. It may also happen when globalization and digitalization make the global allocation of labor, as well as the allocation of work between labor and capital, more flexible than people’s skills and capacities for adaptability allow.
Addressing these forms of decoupling requires economic analysis to be extended to cover a recognition of humans as social creatures, who form communities of affiliation and care, whose objectives depend on their social identities, social norms and moral values, and who understand their social and physical environment in terms of narratives. Making progress along these lines requires gaining insights beyond economics, including disciplines such as psychology, sociology, anthropology and social neuroscience. Dennis Snower’s work on “caring economics” and on identity and narrative economics is relevant here. In this context, the conference is meant to shed light on how economic prosperity can be recoupled with social prosperity.
Sean Cleary (Strategic Concepts),
Marc Fleurbaey (Princeton),
Colm Kelly (PwC),
Rolf Langhammer (Kiel Institute),
Assar Lindbeck (Stockholm University),
Thomas Mirow (previous President of EBRD),
John Muellbauer (Oxford),
Gabriela Ramos (OECD),
David Tuckett (University College London),
Sebastian Turner (Tagesspiegel)
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