The Economics of Enough: How to Run the Economy as if the Future Matters by Diane Coyle

Author:Diane Coyle [Coyle, Diane]
Language: eng
Format: epub, pdf
Tags: Self-Help, General, Personal Growth, Business & Economics, Political Science, Development, Environmental Policy, Nature, Economics, Environmental Conservation & Protection, Values, Economic Policy, Public Policy, Happiness, Sustainable Development
ISBN: 9780691145181
Publisher: Princeton University Press
Published: 2011-03-06T00:18:28+00:00

CONCLUSION

High trust is essential to the kind of economy we have now, but at the same time fragile. Building social capital needs more careful attention; future prosperity will depend on husbanding and strengthening it. We start in a weakened position, due to the financial and economic crisis, and the overhang of debt that will be its legacy. The decline of trust and depletion of social capital takes us right to the central issue for the second half of this book: What institutional and governance reforms can start to correct the unsustainable trends identified here in the way we organize our economies? The need for institutional change in response to the underlying structural and technological changes is pervasive. Private and public sector organizations, rich and poor countries, local and global agencies, all face their own challenges of trust and governance. This chapter has touched on some of the institutional challenges; the issue of institutional reform is center stage in the second half of this book.

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