My dear friend and colleague Susan knocks it out of the park here:
I do not invoke democratic “insolvency” as a metaphor. I mean it literally, seriously, structurally. As Kelton and Raworth insist, an economy’s purpose is to thoughtfully and justly provision the society it serves. The question for the rest of us is what must a democracy’s economy be minimally committed to provision if a democratic society is to remain resilient and sustainable?
Just asking that question exposes a quiet but consequential mistake embedded in much of modern economic and political thinking, one that Meadows would have immediately recognized. Ordinarily, we treat public policy as a menu of options, programs to be debated, adjusted, traded--off, replaced, or discarded, one-by-one, depending on the political moment. But it is extremely likely that, in a modern redesign, some public commitments will not be optional. They may be structural. They may be load-bearing. Moreover, they may only work interdependently, as a system. Remove one, and the whole apparatus may not just perform poorly; it may be doomed to fail.