Today’s austerity is the failure of yesterday’s thin, inauthentic prosperity. That means the central challenge of the Age of Austerity is to reboot prosperity. Tomorrow’s global economy must be built on a more authentic prosperity: one that is more nuanced and meaningful, because it matters in human terms.
In the Age of Austerity, it is institutional innovation — the most advanced and powerful kind of innovation — that counts. Today, we're still surrounded by industrial era institutions — corporations, resources, industries, exurbs, and GDP, to name just a few. Rebooting prosperity means reinventing the institutions that led to austerity.