New Economic and Moral Foundations for the Anthropocene

The biosphere and econosphere are deeply interlinked and both are in crisis.  Industrial, fossil-fuel based capitalism delivered major increases in living standards from the mid-18th through late-20th centuries, but at the cost of widespread ecosystem destruction, planetary climate change, and a variety of economic injustices.  Furthermore, over the past 40 years, the gains of growth have flowed almost exclusively to the top 10%, fuelling populist anger across many countries, endangering both democracy and global action on climate change.  This talk will argue that underlying the current dominant model of capitalism are a set of theories and assumptions that are outdated, unscientific, and morally unsound.  New foundations can be built from modern understandings of human behaviour, complex systems science, and broad moral principles.  By changing the ideologies, narratives, and memes that govern our economic system, we can create the political space required for the policies and actions required to rapidly transform to a sustainable and just economic system.

This lecture will be followed by a networking reception.

About the speaker 

Eric Beinhocker is the Executive Director of the Institute for New Economic Thinking at the Oxford Martin School, University of Oxford. INET Oxford is a research centre devoted to applying leading-edge interdisciplinary approaches to economic theory and public policy practice. INET Oxford researchers are working on issues ranging from financial system stability, to innovation and growth, economic inequality, and environmental sustainability. At Oxford, Beinhocker is also Professor of Public Policy Practice at the Blavatnik School of Government and a Supernumerary Fellow in Economics at Oriel College. He is also an External Professor at the Santa Fe Institute and a Visiting Professor of Economics and Public Policy at Central European University in Budapest.