Press release 29 May 2024

WORLD-LEADING EXPERTS CALL FOR URGENT ACTION AGAINST RISINGPOPULAR DISTRUSTIn a joint appeal, more than 50 renowned academics are calling for a new, causeoriented economic policy. Governments should counter the loss of confidence inliberal democracies with an active industrial policy, a reduction in inequality andbetter-managed globalization.
Berlin/Nauen, 29 May 2024 In view of the wave of distrust towards liberal democracies,
leading scientists worldwide have called for a new policy outlook in Berlin: “To avert major
damages to humanity and the planet, we must urgently get to the root causes of people'sresentment”, the appeal published by the Forum New Economy states on the occasion of
the Berlin Summit “Winning back the People”.

According to the joint appeal, governments should urgently ensure that the perceived oractual loss of control is countered. To this end, the experts recommend, among other things,
ensuring that new companies are attracted and jobs secured earlier in crises, that wealthand income inequality is reduced and that globalization is improved.
Supporters include renowned experts such as Harvard professor Dani Rodrik, Mariana
Mazzucato from University College London, Columbia economist Adam Tooze, New Yorkinequality expert Branko Milanovic, Thomas Piketty, former IMF chief economist OlivierBlanchard, Jens Südekum from Heinrich Heine University in Düsseldorf, Isabella Weber fromthe University of Amherst in Massachusetts and sustainability expert Maja Göpel.
Populists are threatening to experience a new upswing nearly everywhere in the global superelection year of 2024. What is making so many citizens so dissatisfied, what can help to winthem back and restore their trust in democracy, is what around 80 experts have been
discussing since Monday at the three-day summit of the Forum New Economy in and aroundBerlin.
“This sense of powerlessness has been triggered by shocks stemming from globalization andtechnological shifts, now amplified by climate change, AI and the inflation shock”, theappeal asserts. ”Decades of poorly managed globalization, overconfidence in the selfregulation of markets and austerity have hollowed out the ability of governments to respondto such crises effectively.”
What is needed now is a new political consensus that addresses the deep drivers of people's
distrust instead of merely focusing on the symptoms, or falling into the trap of populists
who pretend to have simple answers.
As the danger of armed conflicts has increased around the world, liberal democracies must
once again demonstrate their ability to both defend their values and defuse direct hostilities,
the appeal states. Any attempt to put citizens and their governments back in charge has
the potential not only to promote the well-being of many people. It will also help to restoreconfidence in the ability of our societies to resolve crises and secure a better future. “Weneed an agenda for the people to win back the people.”

Dani Rodrik, Branko Milanovic, Mariana Mazzucato, Adam Tooze, Laura Tyson, ThomasPiketty, Gabriel Zucman, Jens Südekum, Isabella Weber, Olivier Blanchard, Mark Blyth,
Catherine Fieschi, Xavier Ragot, Jean Pisani-Ferry, Barry Eichengreen, Laurence Tubiana,
Pascal Lamy, Maja Göpel und Stormy-Annika Mildner.

*For inquiries:Thomas FrickeDirektor
Forum New Economy
thomas.fricke@newforum.org