ECONOMY
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Mission Statement
Economy is a new and rapidly growing charity with a mission to create a more understandable economics, giving people the confidence to question what economics is, and shape what the economy could be.
About This Cause
We believe we are giving individuals and communities a voice to take ownership over the economic decisions that affect them. As our research has shown the way in which economics is presented in the public sphere at present is inaccessible to the majority of our society, leading to the paradoxical situation of a marginalised majority. Many people are unable to fully participate in democratic life, or take part in debate on how social and economic life should be structured. Inaccessible economics is open only to those with a specialist education, power, and privilege. Economy sets out to address this power imbalance, demystifying economic language to educate its audience on how the economy works and where they fit in, transforming the subject from a barrier to a bridge for citizens to engage in critical, grounded and informed political debate. Economy aims to catalyse a change in our public culture and economic and political systems through reimagining the relationship between citizens and decision makers. At a time when local, national and international politics is changing rapidly, it is imperative that the UK has a fully functioning democracy. We believe that the inability of the majority of people to engage in conversation on economics creates a democratic deficit which our work is uniquely placed to tackle. Our work is broadly divided into three arms: 1. Research - We research how people feel about economics through everything from focus groups, to vox-pops, to large-scale polls. We capture how people respond to the word 'economics', how they describe their relationship to the economy, and what they expect from those who communicate about it. This research leads us to an understanding of who most needs the work we do (our audience), how we should reform economics (our campaign), and what we should directly offer ourselves (our products). 2. Campaign - Our campaign works to influence anyone and everyone communicating about economics in the public sphere to do so in an understandable way. We work with representatives from finance, the media, politics, academia, and education to bring about institutional-level change, providing them with research and recommendations on how to speak effectively with and involve people in the work they do. 3. Products - The products we have created respond to the calls of our campaign. By delivering “Understandable Economics” directly to our end user, our products can be thought of as a ‘stop gap’, providing a solution before institutional level change is achieved. Economy was conceived out of Rethinking Economics (RE), a student-led campaign calling for a more pluralist university economics education. Originally focused on curriculum reform, RE realised that a better economics requires more than just a reformed education for economists: it needs a general public that is able to engage with economic discussion, scrutinise economic decision makers, and articulate what it needs from the economy. Economy registered as its own association CIO (No. 1166046) in the UK in March 2016.