Registration on this page is to watch the event online.  To attend in-person at the Oxford Martin School, please register at:  www.oxfordmartin.ox.ac.uk/events/market-humanism

Is there an alternative to the failed orthodoxies of neoliberalism or the chaos of economic populism?  Yes, according to Oxford economist Professor Eric Beinhocker and technology entrepreneur and civic activist Nick Hanauer.  A new paradigm is emerging that they call ‘Market Humanism” which has the potential to reshape our economy and our politics.

We are in the midst of a change in the global economic paradigm.  The neoliberal consensus dominated policy, politics, business, and academia from the 1970s until it collapsed in the 2008 financial crisis.  Since then, we’ve been living in a paradigm vacuum that has been filled by economic populism and the politics of grievance.  This paradigm vacuum is not only a threat to democracy and the geopolitical order but also prevents us from addressing critical issues such as climate change and the rise of artificial intelligence.

But there is hope.  Synthesising across a wide range of work from modern economics to philosophy, behavioural science, anthropology, sociology, political science, complex systems theory, evolutionary theory, computer science, and other fields, Beinhocker and Hanauer assemble the pieces of what a new, and better, economic paradigm might look like.

They call this new paradigm, ‘Market Humanism’ - an economy built for human flourishing and an economics built on 21st century science.  In this talk they will describe what Market Humanism is, and how it has the potential to change our thinking on policy and business, how it might re-configure our politics, and new narratives that can engage the public. They will conclude with a discussion of the opportunities and challenges of moving towards a market humanist economy.

This is a joint event in conjunction with the Institute for New Economic Thinking at the Oxford Martin School (INET Oxford).

Eric Beinhocker is a Professor of Public Policy Practice at the Blavatnik School of Government, University of Oxford. He is also the founder and Executive Director of the Institute for New Economic Thinking at the University’s Oxford Martin School. INET Oxford is an interdisciplinary research center dedicated to the goals of creating a more just, sustainable, and prosperous economy. Beinhocker is also a Supernumerary Fellow in Economics at Oriel College and an External Professor at the Santa Fe Institute.

Prior to joining Oxford, Beinhocker had an 18-year career at McKinsey & Company where he was a partner and held leadership roles in McKinsey’s Strategy Practice, its Climate Change and Sustainability Practice, and the McKinsey Global Institute. Beinhocker writes frequently on economic and public policy issues and his work has appeared in the Financial Times, Wall Street Journal, Bloomberg, The Times, the Guardian, The Atlantic, the Washington Post, and he is the author The Origin of Wealth: The Radical Remaking of Economics and What It Means for Business and Society. Beinhocker is a graduate of Dartmouth College and the MIT Sloan School, and is originally from Boston, Massachusetts.

Nick Hanauer is an entrepreneur, venture capitalist, author, and civic leader whose work spans business, public policy, and philanthropy. A co-founder of Seattle-based Second Avenue Partners, he has founded, financed, or managed more than 40 companies across technology, media, aerospace, biotechnology, and finance—creating tens of billions of dollars in aggregate market value. He was the first non-family investor in Amazon and served as a board advisor for five years. He founded aQuantive, acquired by Microsoft for $6.4 billion, and has backed or led dozens of other companies including Insitu (acquired by Boeing), Market Leader, Juno Therapeutics, Marchex, Modumetal, Flexe, Seeq, and Seattle Bank.

In 2015, Hanauer founded Civic Ventures, a public policy incubator advancing ideas and policies to build a more inclusive and dynamic economy. A leading national voice on income inequality and the future of capitalism, he was an early advocate for a $15 minimum wage and helped elevate the issue from a local campaign to a national movement. His TED Talks—viewed millions of times worldwide—challenge conventional economic thinking and argue that broad-based prosperity drives growth.

Hanauer co-founded the Alliance for Gun Responsibility, helping pass universal background checks and multiple gun safety laws in Washington State. He also co-founded the League of Education Voters and serves on the boards of numerous civic and philanthropic organizations, including WorkMoney, which now has nearly eight million members.

He is the co-author of two national bestsellers, The True Patriot and The Gardens of Democracy, and the author of Corporate Bullshit. He is currently co-authoring a forthcoming book on redefining prosperity and capitalism.

Hanauer and his wife, Leslie, are signatories of the Giving Pledge and devote much of their time and resources to advancing education, economic justice, and democratic resilience.

'Market humanism: towards a new paradigm for the economy and economics' with Professor Eric Beinhocker and Nick Hanauer