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Medianism is a simple ideology that aims for an economics that benefits the majority of ordinary people. It is an application of democratic ideology to the economic sphere. Democracy is a dictatorship of the median voter, and medianism seeks to extend this idea to economics. Economics should focus more on people in the middle of the income distribution rather than just looking at the total income which is skewed towards elites. Medianism seeks to reform the primary moral philosophy that governs economics and business: money-metric utilitarianism or mmutilitarianism. Mmutilitarianism is the idea that total income is what matters even if most people get nothing and thus it over-emphasizes the welfare of elites. (Also see the Introduction To Mmutilitarianism.) Medianism seeks to find ways to refocus our energies towards the economic well being of the average people (near the median income) and seek policies that benefit a majority of people. Mainstream economists often recommend policies that benefit an elite minority because of unwittingly following mmutilitarian ideas.
One of the goals of medianism is to replace GDP (and the HDI) with Median Expected Lifetime Income or MELI for use as a measure of economic wellbeing. The MELI FAQ explains why MELI is better than GDP for most (but not all) applications and why it will be more successful than the HDI too. The Introduction to Medianism explains a few more details, but it is still a work in progress, so for specific examples and numerous details, the Medianist Blog is the best source. Not every blog post is directly related to medianism because I blog about general economic issues too, but you can click on the medianism category in the blog to see an archive of all the posts that are most directly related to medianism.
2014/12/19 By Jonathan Andreas