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It is vital that two social problems be solved. The first is the obvious degradation of the planet and its atmosphere by over-consumption and over-production through the exploitation of resources in pursuit of monetary gain. The second problem is the toxic pollution of the global money supply, also obvious, caused by financial practices over the past twenty years, led by the investment banks of Wall Street and the City of London.
The problems are related: both arise out of the pursuit of self interest, sanctified by the crude economic utilitarianism that underlies equilibrium economics; both are non-linear catastrophic events, although on different time scales; and arguably both can be described, in different ways, as the greatest market failures in human history.
The Trust has been founded to promote new thinking in economics that does not rely on equilibrium and instead recognises the inherent uncertainties in the understanding of behaviour and accepts that nearly all economic activity is social in nature, not individual; that human beings are social animals; and that successful economies are based on trust and integrity.
Meet our founder and team of trustees
Prof Terry Barker
Dr Annela Anger-Kraavi
Prof Philip Arestis
Prof Richard Murphy