aroberts1_Tetiana LazunovaGetty Images_policy Tetiana Lazunova/Getty Images

The New Resilience Paradigm

With neoliberalism in decline, some are touting "productivism" as an alternative approach that emphasizes jobs and localism. But while productivism can help solve challenges like fragile supply chains, it is only part of a deeper and wider shift toward a new paradigm that prioritizes resilience over efficiency.

CANBERRA – When the world changes, policy paradigms change, too – or at least they should. Harvard economist Dani Rodrik recently argued that, instead of globalism, financialization, and consumption – the principles undergirding the declining neoliberal paradigm that has dominated global economic policymaking for the past 40 years – a framework that emphasizes production, jobs, and localism is needed. Rodrik calls this nascent paradigm “productivism.”