'Not the Nobel Prize' in Economics

Permaculture Magazine
Friday, 20th September 2019

The 'Not the Nobel Prize' in Economics has been launched to celebrate the thinkers and doers finding the economic solutions we need to meet the challenges of the 21st century.

The Nobel Prize in Economics is not a real Nobel Prize: it is sponsored by the Bank of Sweden, who almost always give the award to neoclassical economists who support economists who promote the rational self-interested ‘homo economicus’ market-oriented economic policies and ideas that are wreaking such environmental damage and causing such debt and inequality.

Henry Leveson-Gower has created the ‘Not-the-Nobel-Prize’ in Economics, for which 58 people have been nominated: https://economicpluralism.org/not-the-nobel-prize/ 

'For 50 years, the scientific prestige of the Nobel Prize has given authority to economic ideas at the heart of this system. And even though the stark consequences of the 2008 financial crisis are still felt today, these out-dated ideas remain dominant. We urgently need to reroute society away from this catastrophic path. That starts with fresh economic thinking.

'Who are the thinkers and doers finding the economic solutions we need to meet the challenges of the 21st century? Help us find them and celebrate them.' [https://economicpluralism.org/not-the-nobel-prize/]

Voting ends at 9pm on Sunday 22nd September.

One of the nominees that we've been made aware of is Dr. Jessica Nembhart.

In neoclassical economics, the essential concept of community is absent, having been pushed into invisibility by the individualistic representative agent homo economicus, for whom there is no such thing as society. Dr. Nembhart's work is doubly important, both for her focus on the role of cooperation and building community wealth in the creation of successful local economies, and for her emphasis on previously unknown or forgotten history of the black community in this regard. 

She is the author of Collective Courage: A History of African American Cooperative Economic Thought and Practice, which is one of the books that author Guy Dauncey has found so inspiring during his research for his new book on The Economics of Kindness.



Useful links

Changing systems for the 21st century: Doughnut Economics

Wild economics - an interview with Mark Boyle