Economy for the Common Good
| Founded | October 6, 2010 |
|---|---|
| Type | Voluntary association |
| Slogan | We strive for an ethical market economy designed to increase the quality of life for all. |
| Website | www.ecogood.org/en |
Economy for the Common Good is a social movement advocating for an alternative economic model. It calls for working towards the common good and cooperation instead of profit-orientation and competition[1] which lead to greed and uncontrolled growth.[2] Christian Felber coined the term in his book Die Gemeinwohl-Ökonomie - Das Wirtschaftsmodell der Zukunft, published in 2010.[3] According to Felber, it makes much more sense for companies to create a so-called "common good balance sheet" than a financial balance sheet. The common good balance sheet shows the extent to which a company abides by values like human dignity, solidarity and economic sustainability.[4]
Contents
Overview
Economy for the Common Good calls for reevaluating economic relations by, for example, putting limits on financial speculation and encouraging companies to produce socially-responsible products.[5]
Common good balance sheet
Over 1200 companies actively support the concept of Economy for the Common Good and a few hundred of them have committed to creating the common good balance sheet.[6][7] These include Sparda-Bank Munich,[8] the Rhomberg Group and Vaude Outdoor.[9] According to proponents of the movement, the success of a company should not be determined by how much profit it makes, but rather by the degree to which it contributes to the common good.[10] Companies receive more points in this balance sheet when, for example, employees are satisfied with their jobs or when the top managers do not receive exorbitantly more than the lowest paid worker.[11]
See also
- Participatory economics
- Benefit corporation
- Welfare economics
- Solidarity economy
- Commonwealth
- Common good
- Commons
- Sparda-Bank Munich - Participant in the Common Good Balance Sheet Program
- Christian Felber: Article in the German Wikipedia
Further reading
- Christian Felber: Change Everything: Creating an Economy for the Common Good, ZED Books 2015, ISBN 9781783604722.
- A corporate balance sheet with a little added love, Chris Bryant, Financial Times, Nov. 19, 2014.
- Microvinyas: ethical vineyards producing wine for the common good, Trevor Baker, The Guardian, Jan. 21, 2014.
- Can we create an 'Economy for the Common Good'?, Bruce Watson, The Guardian, Jan. 6, 2014.
- Economy for the Common Good, Diego Isabel, Article for Network of Wellbeing, May. 08, 2014.
- The Economy for the Common Good, DowneastDem, Daily Kos, Dec. 9, 2013.
- Climate Summit Trap: Capitalism's March toward Global Collapse, Harald Welzer, Spiegel Online, Dec. 9, 2013.
- Christian Felber: Die Gemeinwohl-Ökonomie, Eine demokratische Alternative wächst. Aktualis. u. erw. Neuausg., Zsolnay 2012, ISBN 3-552-06188-6, ISBN 978-3-552-06188-0.
- Christian Felber: Die Gemeinwohl-Ökonomie - Das Wirtschaftsmodell der Zukunft, 2010, ISBN 978-3-552-06137-8.
- Article on Economy for the Common Good from the P2P Foundation
- Die Furche : Die Gemeinwohl-Ökonomie, August 26, 2010
- The Common Good, by Manuel Velasquez, Claire Andre, Thomas Shanks, S.J., and Michael J. Meyer
References
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- ↑ Common Good Report from the Sparda Bank Munich, Germany, 2011
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- ↑ Johannes Pennekamp: Die Bessermacher. In: der Freitag Newspaper. September 26, 2011
- ↑ Guido Mingels: Die Achse der Guten. In: Der Spiegel. October 10, 2011
