Dignity, Inequality, and the Populist Backlash: Lessons for a Sustainable Globalization

A sobering, albeit somewhat political, article promoting ‘dignity’ as the central goal of economic policy. Citing economist Eric Sperling’s 3 elements of global capitalism: the ability to care for one’s family without deprivation; the capacity to pursue potential and a sense of purpose; and the ability to contribute, this author proposes a path to improve both US and European models. He recommends a financial system that supports small and medium sized firms, a revised education system that emphasized skills over a university degree, and a system to support social mobility where the equality of economic opportunity prevails. He cautions that if governments and firms do not act decisively to improve their economic models, we will suffer the fate of our parents and grandparents.