Economies are about only two things at their core:
Rob Karpati, The Blended Capital Group
1. People
2. Making (and servicing) stuff
Neoliberal policies have largely ignored people while outsourcing work to low cost countries in ways that don't keep those who are left behind whole. Nobody should be surprised that the long-term result of these policies are increased inequalities, economies that function in unbalanced ways and politics that are grievance and populist driven.
#esg = business, governing social and environmental stakeholder relationships that are baked into broader strategies. ESG is very important, flipping potential stakeholder conflict risks toward collaborative productivity. By explicitly considering stakeholders, positive social outcomes also result - a focus on people and on the environment where people live in other words.
How can public policy effectively catalyze the gains of ESG in delivering #sustainabledevelopment in fair inclusive ways that are not prone to increasing inequality? A clear shift from neoliberal approaches toward a 'new deal' of sorts, where long-term oriented fair inclusive tax and broader public policy integrates with increasing focus on ESG.
We know that many challenges are in play in today's world, ranging from climate through to grievance-fueled populism, making a policy focus that tugs at both hearts and minds essential. Going back to the fact that economies are fundamentally about people and about making/servicing 'stuff', #sustainable policies can naturally partner with business ESG imperatives in the #energytransition, manufacturing strategies, capacity development, and many other long-term focus areas that deliver for the broad middle of societies. What does this look like? What governance is needed, and how does national #governance tie into broader multi-national governance?
MUST-READ: "The Middle-Out Moment Is Here"
📰 The latest symposium from Democracy: A Journal of Ideas delves into the foundational tenets of "middle-out" economics, elucidating its recent traction among policymakers and its recent economic successes, and tackling the obstacles that lie ahead in cementing this economic approach and ensuring its sustained benefits for the public.
In her contribution to the symposium, Roosevelt's President & CEO Felicia Wong charts industrial policy's triumphant return, arguing that continued success hinges on building broad alliances and crafting persuasive narratives that prioritize the public good.
👉 "This middle-out, power-shifting approach tells us that the next stages of our paradigm shift require devoting more attention to workers, to labor, and to issues of both class and race," she writes.
In his contribution, Roosevelt's Director of Industrial Policy & Trade Todd N. Tucker argues that a more active industrial policy is not just good for the economy, jobs, and the climate, it's ultimately good for democracy itself.
👉 "There is every reason to believe that economic statecraft can play a role in restoring faith in democracy," he writes.
Explore Wong and Tucker's pieces along with the other brilliant essays:
▶️ "Keep Empowering Workers!" by Heidi Shierholz
▶️ "Finally, a Public Investment Boom" by Neale Mahoney & Aaron "Ronnie" Chatterji
▶️ "The Fruits of the American Rescue Plan" by Bharat Ramamurti
▶️ "Seeds of an Antitrust Revival" by Sandeep Vaheesan
▶️ "The IRA’s Promises—and Pitfalls" by Jennifer Harris
▶️ "An Economy with Ethics" by Tara McGuinness
Altogether, the series paints a clear picture of the principles, successes, promises, and unfinished business of the #EconomicSeaChange well underway:
https://lnkd.in/gT628mgs
