Rethinking Global Challenges: Why Our Economic Model May Be the Root of Today’s Crises

Have you ever considered that the economy as we know it today might be the root cause of most of the challenges we face, from poverty and climate change to pollution and public health crises? This reflection has become a focal point in my work, especially when considering how innovation can address the grand challenges of our time.?

During the pandemic, I was forced to dive deeper into this question as I watched governments worldwide struggle to tackle a global problem that, with the right approach, could have been solved more effectively and efficiently. We were all fighting the same battle. Thousands of new pieces of information emerged in mere weeks, yet, instead of leveraging global knowledge, each nation worked in isolation, often ignoring the insights and breakthroughs discovered elsewhere.

As an Italian native, I witnessed this firsthand. My region was among the first in Europe to be hit. An Austrian tourist brought the virus into our area, triggering a chain reaction that forced us to learn how to combat the virus with limited information. By the time COVID-19 spread across Europe and America, the initial knowledge we had gained was available, but many countries chose to ignore it. Why? The fear of economic consequences and political backlash. Governments prioritized preserving their economies and avoiding the unpopular decisions that might lose votes over acting swiftly for public health. This delay in decisive action created a crisis that echoed for years, one we are still living with today.

The real issue wasn’t a lack of resources or knowledge; it was that decisions were being made based on economic interests rather than the well-being of people. This incident was a stark reminder that our current economic system drives almost every aspect of our lives, determining which policies, innovations, and even cultural shifts gain traction.

Our economic model has become a dictator of our future. It decides which technologies and innovations are prioritized, not based on their potential to improve human life or solve pressing global issues, but solely on their ability to generate profit. This means that even when solutions exist that could address some of our most significant challenges, they are sidelined if they don’t align with economic incentives.

Take, for instance, the vast amount of technology available today that could drastically reduce our environmental impact or improve public health. Why aren’t we using it? Because those solutions don’t generate the immediate financial returns that our current economic system demands. It’s time to shift direction. It’s time for a system that prioritizes human well-being over profit margins—a "Saint Economy," as I like to call it, where the central focus is not on money but on people.

The pandemic was a wake-up call, exposing the fragility of our current economic model and highlighting its inability to meet our basic needs in times of crisis. Imagine a world where the exchange of goods and services was based solely on necessity, where money was no longer the central player. What if we removed money from the equation and allowed free exchange based on mutual need? The world would be unrecognizable—and undeniably better.

This vision isn't just idealistic thinking; it’s a necessary shift if we want humanity to thrive in the coming decades. We must design an economy that prioritizes the well-being of all people and the planet, not just the financial interests of a few. This is where innovation must step in, not just in technology but in redefining the very systems that govern our world.

It’s time to put humanity back at the center of decision-making. Let’s stop choosing solutions based on short-term profit and start selecting those that bring lasting prosperity and health to everyone. The future of our planet depends on it.