Economy for the Common Good

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 as values above profit-orientation and competition[1] which leads 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]

Economy for the Common Good
FoundedOctober 6, 2010 (2010-october-06)
TypeVoluntary association
Websitewww.ecogood.org

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

Further reading
  • Christian Felber: Change Everything: Creating an Economy for the Common Good, ZED Books 2015, ISBN 9781783604722.
  • The New Systems Read: Alternatives to a Failed Economy, Edited by James Gustave Speth and Kathleen Courrier, Routledge, Taylor & Francis Group, New York and London, 2020, ISBN 978-0-367-31339-539-5.
  • 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

Den Menschen soll es gut gehen : , by Donato Nicolaidi, Sueddeutsche Zeitung, July 6, 2020

References
  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
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