A new paradigm for political economy

Meeting Summary:  Two developments in the social and behavioral sciences — the behavioral and information revolutions in economics — have undermined the dominant paradigms that have informed public policy since the great depression: social democratic (or New Deal) Keynesianism and neo-liberalism. The inability of either paradigm to support a sustainable and democratic society is evident in the widespread loss of a sense of community, challenges of climate change, growing economic inequalities and the rise of xenophobic intolerance. The proposed working group will explore how a new paradigm for political economy might be based on an integration of the behavioral and information revolutions in the social sciences within a democratic and egalitarian normative framework.