A new economics: This way happiness lies

One unintended consequence of the current global financial crisis is that it will reveal what some have known for a long time, namely that a new economics is already emerging. The tragedy is that the crisis-ridden financial system has long since failed to do the basic job required – underpin the productive economy and the fundamental operating systems upon which we all depend. These have been variously neglected, taken for granted or cannibalised by finance. They include the core economy of family, neighbourhood, community and society, and the natural economy of the biosphere, our oceans forests and fields.