1. The Economics of Happiness Molly Scott Cato Professor of Strategy and Sustainability Green Party Economics Speaker

2. Nature is not a place to visit, it is home Gary Snyder

3. Economics for Life From financialised to provisioning economy Degrowth: ‘More fun; less stuff’ Who do we think we are? Replacing status competition with re- embedding Finding the Zen road to affluence

4. The Crises are the Same Crisis  Sustainability requires equality  Sustainability requires financial stability, because debt-free money forces economic growth  Debt requires inequality, because of interest transferring money from poor to rich

5. The lubrication of a fully functioning economy is the most basic role But it is incompatible with the role as a commodity in international speculation

6. Loss of Values ‘Art critic Alastair Sooke tracks down the ten most expensive paintings... Gaining access to the glittering world of the super-rich, Sooke discovers why the planet's richest people want to spend their millions on art.’

7. Loss of Control ‘The most striking revelations in the 322-page prospectus launched the Glazer family last week to seek £500m in new bond loans for Manchester United were the five short paragraphs detailing the millions of pounds the family is personally taking out from the Old Trafford football club.’

8. What is financialisation? ‘The financial growth of the past few decades does not represent a subordination of public authority and political capacity to the expansionary forces of global financial markets but has rather been a process whereby new organisational linkages were forged and particular relations of institutional control were constructed and consolidated. Fundamentally, financial expansion is a process of institutionalisation whereby the web of capitalist power is cast over a wider set of social relations and becomes more rather than less rooted and organically embedded in the fabric of social life.’

9. A Balanced Economy

10. ‘the origins of the cataclysm lay in the utopian endeavor of economic liberalism to set up a self-regulating market system’ ‘previously to our time no economy has ever existed that, even in principle, was controlled by markets’ Challenging our preconceptions

11. Welfare and community Side by side with family housekeeping, there have been three principles of production and distribution:  Reciprocity  Redistribution  Market Prior to the market revolution, humanity’s economic relations were subordinate to the social. Now economic relations are now generally superior to social ones.

12. Citizens’ Income Automatic payments depending on need Tax-free and without means Income tax and employees’ national insurance contributions would be merged into a new income tax The tax-free allowance would balance out the Citizens’ Income for higher earners

13. Important changes in welfare Citizenship becomes the basis of entitlement The individual would be the tax/benefits unit The Citizen’s Income would not be withdrawn as earnings and other income rises The availability-for-work rule would be abolished Access to a Citizen’s Income would be easy and unconditional

14. Can we imagine buying happiness?

15. Can we make the rich pay for their emissions?

16. Do we spend enough time making friends?

17. Opportunities offered by the transition to a green economy

18. What is a bioregion? ‘a unique region definable by natural (rather than political) boundaries’ A bioregion is literally and etymologically a ‘life- place’—with a geographic, climatic, hydrological and ecological character capable of supporting unique human and non-human living communities. Bioregions can be variously defined by the geography of watersheds, similar plant and animal ecosystems, and related identifiable landforms and by the unique human cultures that grow from natural limits and potentials of the region

19. An economic bioregion A bioregional economy would be embedded within its bioregion and would acknowledge ecological limits. Bioregions as natural social units determined by ecology rather than economics Can be largely self-sufficient in terms of basic resources such as water, food, products and services. Enshrine the principle of trade subsidiarity

20. The Cotswold Bioregion

21. Key characteristics of the bioregional economy— Locality Accountability Community Conviviality

22. Locality but not autarky Cultural openness and maximisation of exchange that can be achieved in a world of limited energy, within a framework of self-sufficiency in basic resources and the limiting of trade to those goods which are not indigenous due to reasons of climate or local speciality.

23. Accountability as reconnection Your bioregion is your ‘backyard’ Each bioregion would be the area of the global economy for which its inhabitants were

24. Community not markets Reclaiming of public space for citizenship and relationship. ‘putting the economy in its place’ Market as agora— public space for debate and sharing of ideas, not just commerce

25. Conviviality instead of productivity I choose the term ‘conviviality’ to designate the opposite of industrial productivity. I intend it to mean autonomous and creative intercourse among persons, and the intercourse of persons with their environment I believe that, in any society, as conviviality is reduced below a certain level, no amount of industrial productivity can effectively satisfy the needs it creates among society's members. (Illich, 1974).

26. Environmentally focused thinktank Sharing ideas about the new paradigm Launched in London on 21 st July Recent papers on university funding and guardians for future generations www.greenhousethinktank.org

27. Find out more www.greeneconomist.org gaianeconomics.blogspot.com Green Economics: An Introduction to Theory, Policy and Practice (Earthscan, 2009) Environment and Economy (Routledge, 2011)