Welfare is a Stock, GDP is a Flow

I am not exactly sure if I heard him say it in his talk on 6 May 2021 as part of a series broadcasted by the Oxford Martin School, or if I read it in the first pages of his review, but it did provoke a train of thought, Sir Partha Dasgupta’s statement that “Welfare cannot be measured by GDP, since Welfare is a stock and GDP is a flow”.

The Beer Game

I have been participating in a group that was reading Complexity: A Guided Tour, by Melanie Mitchell. In one of our last sessions we set the book aside and explored the complexity of the supply chain.

Mental Models

One of the things I find important in relation to a 21st century economics education is systems thinking. But when discussing systems thinking with interested others I often find that it is such a huge concept.

New in March

We are in the process of redesigning our website. The main goal is to make it easier for teachers to find lesson materials. But this has a drawback on the publication of new posts.

Systems of Provision Approach

Last weekend I watched an online lecture with the title “How We Got Addicted to Cars” brought by the University of Utrecht. The lecturer was the economist Julia Steinberger, Professor of Social Ecology and Ecological Economics at the University of Leeds. 
I took something away from this lecture, that is much more profound to me than our addiction to cars, and very much in tune with the doughnut framework: The Systems of Provision Approach.

When you know your economy

The social foundation offers ample possibilities to connect financial and economic literacy, like health, education, food, water, energy and housing. These elements correspond with economic sectors in which students engage now, and will engage more when they take the next step in their lives and have responsibility for their own household budget. That is how we came up with the idea of a series of lessons called ‘Know Your Economy’.