The uniqueness of capitalism resides in its ability to turn the vast capacity of humans to innovate into massive wealth. Progressives are in a good position to recognise that capitalist innovation is a double-edged sword that offers the opportunity to address inequality and poverty by raising productivity and living standards but will also bring about obsolescence and so incur great human costs. The challenge facing progressives is to reduce the human impact of the 'creative destruction' process, without losing its benefits.
'This is a very stimulating and provocative contribution to the debate on economic policy. There are so many ideas in it, everyone is bound to disagree with something, but it is a coherent and wide-ranging attempt to completely rethink the economic position of the centre-left and to bring it into the 21st century. It deserves a wide readership.'
Author of Butterfly Economics and Why Most Things Fail
'The global economic crisis dramatically showed the limitations of current economic thinking. But there are ideas emerging from the field of complexity economics with the potential to give us a much more realistic view of the economy - a view that takes into account real-world human behaviour and institutions. This pamphlet is an important step in developing those ideas and beginning to think how they might be applied to improving policy, with the promise of a more robust, resilient, and innovative economy. With its New Era Economics programme, ippr is helping to reframe economic debates and turn crisis into opportunity.'
Eric D Beinhocker
Author of The Origin of Wealth: Evolution, Complexity, and the Radical Remaking of Economics
Snakes and ladders: Tackling precarity in social security and employment supportAcross the country, people are trying to make ends meet, build financial security and pursue their aspirations. But, in a vicious cycle of snakes and ladders, many are being pulled down into poverty.
Making markets: The City's role in industrial strategyTo tackle climate change, we need a significant increase in public and private capital investment.
Broken hearted: A spotlight paper on cardiovascular diseaseProgress on cardiovascular disease was a significant driver of better health and prosperity in the latter half of the 20th century, however progress has recently stalled – with indications it may be in reverse.