"Any use of resources and time is a matter of economic policy", says Elsa Kivinen

"Power does not exist in a vacuum – it always has to be wielded. If we explore power across different contexts, we realise economics, as a discipline, has a lot of it", says Elsa Kivinen, board member of Rethinking Economics in the email interview for Kylteri.

The economy can be viewed, studied, and treated from many different angles. Since the economy is part of our everyday lives, it would be important to diversify the way we talk about it. Rethinking Economics is one of the movements aiming to democratise discussion about “the economy” and economics as a discipline, as well as improve the accessibility of these discussions. “In order to analyse what is wrong with the world and how to use power, we must be able to analyse and, if necessary, critique the tools we use to understand and shape the world. At this point, criticising homo economicus is not relevant anymore – what we want is to highlight that like any discipline used to make sense of the world, economics is used to shape society,” says Elsa Kivinen, board member of Rethinking Economics, describing the importance of the movement. Kylteri interviewed Kivinen to hear fresh thoughts on economics and the current economic situation.

What’s wrong with Finland’s economic policy?

‍“Real-life economics and economic policies do not happen in a vacuum. The power of those who lobby for certain kinds of economic policies should be examined in a societal context. In Finland, there could definitely be a lot more discussion of harmful agricultural subsidies, for instance, since they prevent the transition to a more sustainable economy. The role of the state in economic policy should also be reconsidered, but this seems to trigger a lot of polarising and relatively low quality shouting at ideological opponents.

In general, the discussion atmosphere in Finland should be more outward-looking. Here, the news at the level of the EU and world economic policies gather surprisingly little attention, apart from some academic discussions and panels. If we don’t learn through discussion and argumentation, there is very little hope of enacting better policies. Thus, steering economic policy remains in the hands of very few who use power to their advantage.”

What would the ideal state of the economy look like to you?

‍“My utopia of the economy is that no one would have money-related worries or fear of not having enough money to meet basic needs. Personally, I think that any use of resources and time is a matter of economic policy. In my utopia, work (both paid and unpaid) would be more evenly distributed and people would be able to choose work that is meaningful to them. If poverty didn’t exist, people would be better equipped to use their skills and potential in their life. For example, no one should be forced to ”earn a living” by working in a poorly paying job (which often pays less than a living wage!) at a sweatshop where garments are produced for the global north only for those people to throw them away. This kind of economic system not only hurts people and our environment, but is also extremely irrational.

Of course, people would have to learn to be responsible with their personal and communal money and resources as well as understand the risks of some decisions, but this statement does not negate my desire for this utopia. I also believe that in this ideal economy, people would have a better grasp of personal and planetary limits and a stronger desire to share and manage resources fairly and democratically, as a result.

However, this is only realistic if we choose to work for the vision: to learn about economics and power together, and put in the required effort. I have plenty of ideas, and I know I’m not the only one willing to develop the current system!”