Out of the ashes: Ukraine and the new social paradigm

Abstract

ABSTRACT Structural reform of society is imperative, if governments are to be equipped to navigate the existential crises that threaten humanity. A new paradigm of governance is proposed, illuminated by Ukraine’s need to “build back better” after the war. The twin pillars of property rights and fiscal policies support the current social model. The knowledge required to reform these pillars has featured in the economic literature for more than two centuries. The theory for the alternative paradigm has been empirically tested in culturally diverse parts of the world for more than a century. Policy-makers and the international financial institutions, however, persist with taxes on earned incomes which damage the wealth and welfare of nations. If the post-war aspirations of the people of Ukraine are to be realised, sub-optimal funding policies need to be set aside to accelerate renewal on terms that would inspire other nations.