Great Rebalancing

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Policy recommendations from the New Economics Institute:

"In the Great Rebalancing we make a positive case for markets, but only once markets have been set up in such a way that prices reflect true social and environmental costs and benefits, and when those markets operate within scientifically defined limits. We also argue that the market sphere needs to be more tightly drawn and rebalanced alongside the public sphere and the 'core economy' – our ability to care, teach, learn, empathize, protest and the social networks these capacities create. In laying out the essential functions of the state, we again make a positive case – the state should be seen as 'us' and not 'them', and as a domain where we come together to achieve those things that are best done collectively. Arguing for a broader definition of 'public goods' and for the importance of maintaining low levels of inequality, we sketch out a facilitating state, which supports citizens, but also works with them to 'co-produce' well-being in areas such as health and education. This facilitating role requires a balance to be struck between direct provision, co-production, and the fostering of strong local relationships where people are encouraged to come together to pursue their shared goals and shape their own outcomes." (

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