The study "Making the great turnaround work. Economic policy for a green and just transition" is the product of a series of transatlantic roundtables on the future of economic policy which brought together well-known economists such as Adam Tooze, Daniela Gabor, Maja Göpel and Jean Pisani-Ferry.
The publication aims at contributing to the emergence of a transformative economic thinking, integrating environmental, social, and economic dimensions, after neoliberal economic thinking has clearly passed its sell-by date in view of the enormous growth in unmet challenges over the last 40 years.
The study is the product of a collaboration of the Heinrich-Böll-Stiftung, the ZOE Institute for Future-Fit Economies, and Finanzwende Recherche.
A good wrap-up and orientation for the articles provides the lead article of Jonathan Barth, Jakob Hafele and Adam Tooze which outlines what a long-term economic policy could look like.
More in-depth information is provided by the articles assigned to four overarching themes:
– Finance, central banks and fiscal policy
– The role of the state, investments and industrial policy
– The social foundation and it's implications for the political economy
– A shared (growth) agenda for the future of economic policy.
There is also an online dossier on the study.
We additionally recommend the podcast produced by Heinrich Böll Foundation Brussels on the topic of "Greening Finance" with Frank van Lerven and Carolyn Sissoko (more podcasts will follow).
Table of contents
- Winning the Marathon and the Sprint – Achieving long-term economic policy objectives in an era of short-term responses
I. Finding common ground: A shared agenda for the future of economic policy
- Sustainable Prosperity in an Uncertain Future – A shared agenda between green growth and degrowth
II. Making finance, central banks and fiscal policy serve long-term goals
- Changing Europe's Fiscal Rules: Unleashing Public Investment for a Socially Just Green Deal
- Green Central Banking
- The Role of Financial Markets in a Green Transformation
III. Beyond finance: The role of the state, investments and industrial policy
- The Macroeconomics of a Green Transformation: The Role of Green Investment
- Beyond Carbon Pricing: Six Sustainability Transition Policy Principles for Net Zero
- Industrial Policy Reloaded – Shaping industrial ecosystems towards sustainable prosperity
- Climate Policy from a Keynesian Point of View
IV. The Social Foundation and it's implications for the political economy
- Just Who Gets Paid-Off in a "Just" Transition? - Some difficult lessons from BlackRock and French populists
- Why Fostering Socio-economic Convergence in the EU Is Necessary for Successful Climate Change Mitigation
- The Case for a Social Guarantee: Universal Access to Life's Essentials