Economic Flourishing: Make it Personal

Struggles of identify have once again come to the fore, particularly those of race and gender. One consequence of course, is that sometimes it's difficult to turn on the news without getting depressed. Yet I'd be lying if I suggested that class or gender based discrimination have never been problems for me. All the more so, whenever difficulties in maintaining steady work meant corresponding limits in personal freedom and autonomy.

Just the same: Despite how issues of inequality and social justice are often framed by politicians, activists, and others, I believe in practical solutions for complex social problems. Specifically, a strong supply side approach for production reform, could change lives for the better in ways people get to experience, rather than having to be convinced of. Let's strive for economic flourishing on real economy terms that go well beyond what money alone can accomplish. Why not create new free markets, to supplement countless local markets which have long been restrained and will continue to be so. Fortunately, it is within our ability to make economics personal in ways which matter for all citizens, not just the elite or perhaps well to do.

Don't get me wrong! Arguments for social justice are important, and perhaps some positive change may finally come from recent struggles. Nevertheless, these discussions and activities are somewhat different, from what is needed to generate positive change at a real economy level.

In particular, economists might come to recognize supply side approaches which directly benefit all citizens. While economists have studied the economy in great detail, they mostly utilize impersonal means which are consequently lacking in real economy results. Worse, the inclination of academics and pundits to emphasize what doesn't work - such as one's ideological opponent - means too few economists who are fully vested in contributing to real economy outcomes. Sadly in all this, economics is now mostly "personal" only insofar as people are angry at economic outcomes.

Make it personal by creating more positives, instead of focusing on existing negatives. This is all the more important, since social justice hardly comes down to moving existing revenues around, or some other temporary form of "inclusion". Real economic justice means ongoing economic inclusion, in terms of what human capital potential might still accomplish. We have already seen many times over, for instance, how making more revenues available for governments, is scarcely the same thing as creating real economic access for citizens from all walks of life.

We could make economics personal in ways which help to defuse identity struggles. This is particularly possible, when we refuse to constantly demean what has come before in terms of supply side structure. The real issue isn't about dismantling special interest advantages, but of creating and cultivating new markets where special interests lack incentive to tread. It's not necessary to put non tradable sector special interests on the defensive. And if we don't, we gain more chances to create new wealth and prosperity on more personal and meaningful terms.

Only recall, how much identity struggle exists because our present equilibrium needs new and stronger definitions of wealth. We can make economics personal again, by inviting all citizens to take part in wealth creation. How might individuals share their personal definitions with others? How might others respond? Each offering can better align the ones that follow. Let's get started. Why not focus on the commonalities of what we all want and hope for? We could still break free of the chains that emphasize our differences, with the unity of a productive economic response.