Re-Thinking Economics

A new three-part series beginning with clarity and ending with changemakers. In conversation with Christian Felber , a renowned Austrian economist, writer and university lecturer with a unique philosophy on the common good in economics.

He believes our economy should serve a higher purpose than capital accumulation. Instead, he proposes that economic success be measured based on contributions to the democratically defined common good.

Here are some key takeaways from our discussion:

Redefining Economy: Christian argues that there needs to be more clarity about the definition and goal of the economy. He aims to redefine economic activities as oriented towards the greater good, not just capital accumulation.

Aligning Economics with Democracy: He highlights the contradiction between the core values of economics textbooks and the fundamental values of democratic constitutions. He emphasizes the need to align economic activities with the importance of human dignity, solidarity, social justice, ecological sustainability, and democracy.

A New Measure of Success: Christian proposes replacing GDP with a dashboard of a nation as a more reliable compass and guiding star. This approach aligns with Aristotle's definition of economy and the fundamental values enshrined in democratic constitutions.

The Common Good for All Life: He suggests that the contemporary common good should include all life, not just humans.

Listen here to Re-Thinking Economics.

Or go direct to?Spotify?and?Apple?if you prefer

Of course, if you would like to chat about the 5Cs, in whole or in part, reach out to me, Charlene Norman, here on LinkedIn.

The 5Cs is version 2.1 of Exploring Compassionate Capitalism.? Its focus is helping those who care make a more significant difference by using the right tools for maximum impact.