Incentivising an ethical economics: A radical plan to force a step change in the quality and quantity of the UK's economic growth
Article
In its own prescription for kick-starting growth, IPPR calls for a rebalancing of power to move the economy out of its current low wage/low productivity equilibrium. This, IPPR’s Commission on Economic Justice argues, requires a shift in power from: corporate management to employees/trade unions; short-term financial interests to long-term investors; dominant companies to entrepreneurs; Westminster to the nations and regions; and households with great wealth to those with little.
We agree wholeheartedly that such structural and institutional change, including a greater emphasis on localities, allied to significant revenue-raising tax and wealth redistribution, is essential to deliver a step change in the quantity and quality of economic growth. We argue that this must be achieved through reconceptualising the welfare system as a growth promoter. Our radical proposal provides a general, motivating mechanism to achieve this.
Related items
Who gets a good deal? Revealing public attitudes to transport in Great Britain
Transport isn’t working. That’s the message from the British public. This is especially true if you’re on a low income, disabled or living in the countryside. The cost of living crisis has exposed the shortcomings of our transport system,…Bhargav Srinivasa Desikan on TalkTV discussing AI
IPPR's Bhargav Srinivasa Desikan on TalkTV discussing his new report on the impact of generative AI on the UK labour market.Transformed by AI: How generative artificial intelligence could affect work in the UK – and how to manage it
Technological change is a good thing. It has brought exponential gains to living standards and is the foundation of modern society. Yet unmanaged technological change has always come with risks and disruptions.