#8 Time to Build Back Better: Post-Pandemic Recovery (11/24/2021)

#8 Time to Build Back Better: Post-Pandemic Recovery (11/24/2021)

/소식/뉴스레터/#8 Time to Build Back Better: Post-Pandemic Recovery (11/24/2021)
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CTMS Weekly brings to you the insights and lessons shared during the 2021 Int'l Care Economy Conference to reflect on the role of care economy as we face the upcoming challenges in building back better and achieving a more equal society post pandemic.

Nobel prize economist, Prof. Joseph Stiglitz explains the role and importance of care economy in the road towards a strong recovery post COVID-19. Adding to the conversation, Emeritus Professor Diane Elson breaks down 8 steps to create a caring economy and lessons learned from the UK. Join these two keynote speakers and follow their discussions on the topics of:
  • GDP: Why GDP hinges the value of care, and how it affects the care economy.
  • Build Back Better: Why a caring economy is the way to build a strong post-pandemic recovery.
  • Korea: How can Korea become a leading country in leading the caring agenda throughout Asia.
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Prof. Joseph Stiglitz shares his thoughts on reimagining the post pandemic future transformation towards a caring society. He begins by rescuing the silver lining of this pandemic: the opportunity of crisis. As we emerge from this pandemic, he reflects on the values of health, education, and the environment. Previously unappreciated, these areas proved to be the most important ones when sustaining economies during this crisis. He points out how greatly underestimated these care services are since they are valued within GDP standards, a metric that focuses on produced goods and material growth. And so, to build back a more resilient economy, Prof. Stiglitz calls for a structural reformation by providing care services the adequate value they deserve within an economy. He reaffirms that this focus will reduce inequalities, create better trust and lead to more innovative economies. 
 
Listen to his full speech in this video.
"If we truly care for our children, our sick, our elderly, then we will pay, we will provide more adequate compensation for these services, and we will show in doing so that we truly value the services."

- Joseph Stiglitz
Nobel Prize Economist
Professor at Columbia University
"Creating a caring economy can build forward in ways that would also equip us to be better prepared for future health and environmental challenges." 

-Diane Elson
Former Chair, Womenʼs Budget Group
Emeritus Professor at University of Essex
Int'l Care Economy Conf 2021 | Diane Elson Keynote
Is public spending on care considered to be consumption or investment? Can social infrastructure be considered an investment at all? Emeritus Professor Diane Elson identifies 8 necessary steps in creating a caring economy to deal with the repercussions of COVID-19. She illustrates the example of social investment in the UK through a simulation study analyzing the employment impact of investment in social infrastructure. For the UK, at current wages, investment in care would generate 2.7 times as many jobs as similar investment in construction. This translates to 6.3 times as many jobs for women.
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