What is economics - and what should it be?
Episode description
Digital technology is revolutionising economics; both the tools it uses, and what it seeks to measure, understand, and shape. Long-standing accusations levelled against economics – that it values the wrong things, ignores the real world, and misunderstands what drives people – have been given a new edge by events of recent years. How does economics need to change to respond to the dizzying changes we have experienced, and help policymakers resolve our biggest crises?
Professor Diane Coyle explores how, as our societies are rewired in the 21st century, economics can adapt to offer new solutions to new problems. How can we move away from the idea that people are self-interested, calculating “cogs”, and address the burgeoning “monsters” that characterise the digital economy? Coyle lays out a vision for how economics can become more inclusive, sustainable, and equip us to meet the challenges of tomorrow’s world.
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