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Jane Morrice (above), whose wide experience includes serving as Deputy Speaker of the NI Assembly.
Many people are wanting to see a change in economic thinking post-covid-19 but Jane Morrice’s approach is perhaps a little different, in that she wants to see the teaching of economics change to reflect current world needs and issues. In a letter to the Financial Times, she advocated a fundamental reset of the teaching of basic economic theory which would require a new culture regarding health as a nation’s wealth, natural resources as its riches and people as its priority.
Our outdated approach to economic principles should be replaced by one which links social, environmental and economic policy and places a sustainable, socially just society alongside job creation and growth in one all-inclusive new theory, “socenomics”.
Jane believes Covid-19 has proved that our economy is intrinsically linked with the health of society and the environment. But our education is divided into information management silos.
She sees the need for radical change in the way we measure and value success to overcome these divisions; the use of gross domestic product to measure national success should be replaced by a system that goes beyond pennies in pockets or investment in stocks and should measure:
- medics per inhabitant,
- disease control
- and levels of air and water quality
Her conclusion: an approach which places a sustainable, socially just society alongside job creation and growth in one all-inclusive new theory, ‘socenomics’ would offer “a simple, yet comprehensive, solution to the most serious challenges facing 21st-century society”.