Economic Reset Track

 
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The Economic Reset Track offers the opportunity to study how economies can be more sustainable, inclusive and equal as the world emerges from the pandemic. It involves governments, international donor institutions, corporations, non-profits and other groups that collectively constitute the political-economic system.

The Traditional Approach

The traditional approach centres on the economic policy implemented by governments. Policies currently being discussed include universal basic income, wealth taxation, education finance and reparations. It is also possible to develop new ways for governments and international development institutions to partner with the private sector and to provide incentives for private entities.

A Renewed Focus

Another approach is to focus on what firms and non-profit organisations can achieve. They can be drivers of technological growth and can work to disseminate technology more broadly. They can also improve the workplace with better jobs, predictable scheduling and flexibility for employees who have family obligations. The renewed focus on social change in private sector organisations provides an opportunity to develop new ideas and methods.

A Role For Social Movements

Finally, there is a role for social movements. We can look to successful movements of the past to learn how consumers and voters can be organised to press for change. Consumers can refuse to purchase goods and services of some firms with boycotts or commit to purchasing products of those that pursue social goals. Another model is to try to influence the regulatory process and the decisions of elected officials. With the rise of social media, it is easier than ever to reach and connect with people.

Whether it is through government policy, private actions or social movements, there is a broad range of topics that can be studied and many approaches that can be taken, in the Economic Reset Track.

Potential Project Questions

Consider some of the following questions or projects within this Track:

  • How has the experience of COVID-19 changed the prospects for universal basic income, wealth taxation, reparations to historically disadvantaged groups and other programmes that could reduce inequality?

  • How can governments condition public support, both during the pandemic and after, to promote the public interest and address inequalities?

  • How can the public and private sectors, separately and together, encourage the development of technologies that have broadly enjoyed benefits? Does the limited dissemination of technology arise from intellectual property restrictions, and, if so, would it be possible to get firms to allow licensing for non-profit ventures aimed at reducing inequality?

  • Should COVID-induced changes—such as those in telemedicine, remote schooling and working from home—be encouraged or discouraged?

  • How can the workplace better accommodate people with family responsibilities, disproportionately women, to care for children or parents?

  • How might we engage people in decisions as consumers such those around redressing inequality?

  • How can developing countries that rely on raw material exports, particularly of hydrocarbons, be helped if demand remains depressed?