Economy for the Common Good

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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]

Overview[edit]

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[edit]

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]

Critique[edit]

Some have criticized this approach by arguing that it can not be realized within the confines of a free-market economy.[12]

See also[edit]

Further reading[edit]

References[edit]

  1. ^ Butterweck, Hellmut (March 18, 2011). "Utopia einer schöneren, gerechteren Welt, Felber, Christian: Gemeinwohl-Ökonomie - Das Wirtschaftsmodell der Zukunft". Wiener Zeitung. 
  2. ^ Hechtel, Heidemarie (July 28, 2012). "Gemeinwohl statt Gewinn, Der Traum von der realen Utopie". Stuttgarter Nachrichten. 
  3. ^ Felber, Christian (2010). Die Gemeinwohl-Ökonomie – Das Wirtschaftsmodell der Zukunft. Deuticke. ISBN 978-3-552-06137-8. 
  4. ^ Meier, Susanne (Nov 17, 2012). "Menschlichkeit statt Finanzgewinn 16 Tiroler Pionier-Unternehmen erstellen erstmals eine Gemeinwohlbilanz, indem sie ihre Firma in Punkten wie soziale Gerechtigkeit und ökologische Nachhaltigkeit bewerten.". Tiroler Tageszeitung. 
  5. ^ Koch, Hannes (April 14, 2012). "Der Finanzmissionar - Ein österreichischer Wirtschaftsprediger will den Kapitalismus von innen angreifen – ganz freundlich. Jetzt hat er sich mit einem bayerischen Banker verbündet.". die tageszeitung. 
  6. ^ "Official Webpage of Economy for the Common Good". 
  7. ^ Butterweck, Hellmut (March 18, 2011). "Utopia einer schöneren, gerechteren Welt. Felber, Christian: Gemeinwohl-Ökonomie - Das Wirtschaftsmodell der Zukunft". Wiener Zeitung. 
  8. ^ Common Good Report from the Sparda Bank Munich, Germany, 2011
  9. ^ Spengler, Hanna (November 8, 2012). "Kooperation statt Konkurrenz - Die "Gemeinwohl-Ökonomie"". aktuell. 
  10. ^ Johannes Pennekamp: Die Bessermacher. In: der Freitag Newspaper. September 26, 2011
  11. ^ Guido Mingels: Die Achse der Guten. In: Der Spiegel. October 10, 2011
  12. ^ Michael Amon: Wie man sich ein Weltbild richtig zurechtbiegt In: Die Presse, commentary, January 24, 2012

External links[edit]