ABSTRACT
The failure of neo-liberal, right-wing economic theory and its damaging business model raises the risk that it will be replaced by some equally damaging populist approaches. The fact that an approach is stridently different does not automatically make it better. The radical shift that is really needed is an understanding of the behavioural nature of economics, and a break with the short-termism of both left and right-wing economics. The route to fairness lies in developing participative, ethically-run organisations in the public and private sector, not in protectionism or unsustainable borrow-and-spend policies. Economic and business development is a multi-dimensional dynamic, ideally featuring strong skills, entrepreneurial endeavour, strong management abilities, and access to capital, leading research at universities, low corruption levels, a good infrastructure and robust contract law. A behavioural understanding of economics and management challenges long-held beliefs of left and of right. Exploitative management is behavioural; it isn't caused by the profit motive.
