What if the common good was the goal of the economy?

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We live in a world where economy is on its head, or topsy-turvy – a world that is filled with competition, endless growth and the illusion that this will endure forever. Christian Felber shows us an alternative, a way out of this system.

Today economy is on it’s head,
let’s put it back on it’s feet.

He starts his talk with telling us about how the system works and functions at the very moment and where it may be heading if it continues this way. We are told that there are different analysis from experts who tell that a change of the system is imminent, a change has to happen – the sooner the better. We all know that we – the people are not happy with the situation nowadays – many things have changed but the economic system is still working the same way.

He tells us about the economy for the common good, where the goal is to be successful by adding value for the society.

1. Market values and social values should no longer oppose each other. The same values that contribute to fulfilling interpersonal relationships should be awarded in the economy.
2. Conformity with the constitution. The economy should function in accordance with the values and objectives established by the constitutions of western democracies, which is currently not the case.
3. Economic success should no longer be measured with monetary indicators (financial profit, GDP), but by what is really important, i.e. utility values (basic needs, quality of life, communal values)
Market values and social values should no longer oppose each other.

Christian shows a future economy worth living for and also worth living in, it sounds perfect and it will change our perspective completely. When you think about how small the world became over the past few years, how globalization, how the networks developed, how the human race became closer than ever before it seems to be the next logical step.

During the talk he asks the audience for some volunteers to come on the stage and participate in an experiment. Five men and five women arrive on the stage to give their opinion on the following question “when you are in control of defining the minimum wage and also able to decide the maximum factor that a person is allowed to earn where would you put it?” After a few minutes the result was clear, the majority would be okay with a factor that is far below the reality – so the main question remains “why do we support a system where only a few people earn the majority of money while others, who are the majority by the way live with a small income in comparison? That’s the reality at the moment and I agree that it’s time to change that – for a better future.

Recently a so-called Gemeinwohl Bank was founded with the target to let people participate, a Bank that is there for the people and not the other way round. I am hopeful that this system will not only be successful at the beginning but will endure and show other companies a new way.

Economy for the Common Good at Wikipedia

Ecogood Website

Christian Felber’s Website

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