Fixing the Future: Innovating more effective responses to recession

In summary the paper gives the background to the recession and the different approaches that governments around the world - national, regional and local - are taking. These include what is called protective, future investment, localizing and insulating responses.

One of the main arguments of the paper is for adapting recovery plans to put a much greater emphasis on future growth industries rather than bailing off failing ones. The most available evidence suggests that the biggest employers of the next decade will be in health, education, care, environmental services and tourism. Yet recovery plans have been primarily oriented to sectors with smaller shares of employment and that are likely to further shrink in the years ahead. The majority of current policy responses have been - inevitably - designed to fix the past, putting right the mistakes of the banks and others. The priority in the next phase is to shift direction towards fixing the future.

Franklin Delano Roosevelt argued in 1932 for "bold persistent experimentation", and said "it is common sense to take a method and try it. If it fails, admit it frankly and try another. But above all, try something".

Geoff argues for linking the two great challenges of our times that most demand 'bold, persistent experimentation': the need for better solutions to the short-term problems of recession; and the need for better solutions to the long-term challenges of climate change and ageing, healthcare and expanding education.

To read Geoff's ideas on innovating more effective responses to the recession to fix the future click here to download the pdf.

Geoff Mulgan
Director
The Young Foundation
http://www.youngfoundation.org.uk/