A new economic paradigm for people and planet#
The Royal Society of Arts invited to an event 30 January 2023, with two well-known scientists , evolutionary theorist David Sloan Wilson and economist Dennis J Snower who discussed a new economic paradigm: the "multilevel paradigm" which applies the Darwinian theory of evolution to the analysis of economic processes. "Darwinian" refers to all variation/selection/replication processes, not just genetic evolution, making it highly relevant to economic theory and practice. The economy is viewed as a system that is embedded within political, social and environmental systems. The evolution of economic activities is understood in terms of
variation (innovation),
selection (cooperative and competitive relations that survive) and
replication (transmission and proliferation of ideas).
#People require material sustenance, empowerment and social belonging within a stable environment. People’s needs and purposes include those underlying two capabilities sociality and innovation. Sociality (encompassing affiliation and care) is responsible for cooperation beyond enlightened self-interest. Innovation, or adaptability in evolutionary terms, is driven by the need for agency (the ability to shape one’s prospects through one’s own efforts)
#These elements of wellbeing are measured explicitly in the
SAGE dashboard where
S represents “Solidarity,”
A represents “Agency,”
G stands for “material Gain,” and
E signifies “Environmental sustainability.”
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