Helping organizations see the big picture in their economic stories
Consulting with Irena Asmundson
Our economy is the product of how we choose to interact, and we can choose kindness
As someone who has spent her entire career in public service, I know it can sometimes feel like the problems (like climate change) keep getting bigger while the demands increase. We can stop scrambling and get ahead of problems if we’re willing to be honest with ourselves and our communities about the tradeoffs of our decisions and learn over time. This is hard - it’s never easy to tell someone no or admit we need to change course. But done well, we can build trust, and get everyone in our communities to help us solve problems together.
This starts with a clear story about what is going on in our community, ideally tied to data. Stories help us see the tradeoffs of our decisions, and help us check whether a decision fits with where we want to go. When we do this, we can shift from reacting to preventing future problems. I’ve seen this work. I’ve seen the change. I believe you can help your community too.
Wherever you are in this process, Practical Idealism Economics can help coach you to improve.
Irena Asmundson
Nice to Virtually Meet You!
As an economist working at the international, national, and state levels, I have seen what it takes to prepare well for the future. During the aftermath of 9/11, I was a staff economist at the White House Council of Economic Advisers, and saw how quickly people could pull together. During the 2008 financial crisis, I was an economist at the International Monetary Fund and saw how crucial inclusive policymaking is when everything falls apart. During my time as the Chief Economist at the California Department of Finance, I saw how building up a rainy-day fund and maintaining budget discipline allowed the state to avoid painful cuts during the pandemic. Growing up in Davis, California, both my parents were active in local government, and I have wanted to help communities for as long as I can remember. Economic thinking is how policy decisions are shaped, which is why I majored in economics and mathematics at MIT, then received a PhD in economics from Stanford.
All these experiences have reinforced my belief in the power of advance preparation, an open and inclusive institutional culture, and shared economic stories that keep us focused on the real issues. Addressing climate change, economic inequality, and shifting demographics are huge and urgent challenges. I started Practical Idealism Economics because I believe we can shape our economic futures by working together with empathy and honesty. If you think I can help your organization serve your community, I look forward to hearing from you!
Consulting Services
I want you to have the tools to help your community tackle difficult trade-offs, while building community ties. The core is developing and using an economic narrative. This requires rethinking tasks, responsibilities, and how you interact with the public, but it should ultimately make your job easier. I am available to help coach you through the change process.
Typically these engagements will start with a discussion of where you are in the transformative process and what your goals and constraints are. If we agree that it’s a good fit, I'll take some time to get up to speed about your community.
This may include reading past budgets or bond issuance documents, general plans, watching recordings of meetings where available, and interviewing staff and community members. Then we'll decide on a scope of work. This could be as simple as recommendations for where to start and a plan for checking in, or as complicated as a section in your strategic plan for improvements over the next five years.