Mindful economics

Mindful economics

Mindful economics is an approach to economic theory and practice that is dedicated to institutional reform based on the core values of environmental sustainability, social justice, and stability. The approach was founded by economist, Joel Magnuson, who is most known for his book, Mindful Economics: How the U.S. Economy Works, Why It Matters, and How It Could Be Different, NY: Seven Stories Press, 2008.

The central premise of mindful economics is that the dominant institutions in America have created destructive social and environmental conditions, and changing these conditions requires a deep exploration and development of alternative institutions. Mindful economics is based on empirical evidence of the destructive conditions that can be found in a number of areas such as widespread environmental destruction, resource depletion, and global warming; the vast inequality of wealth and income distribution; and the banking crisis of 2008.

It is also based on empirical evidence of how people have confronted and can confront these problems directly by fostering change through the development of non-capitalist institutions. Examples of such institutions would be locally based community cooperatives, small businesses, and public institutions that are all structured around the same core values.

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