It’s time to move beyond economic growth when assessing economic progress. It has outlived its usefulness. We need to re-balance social, ecological and economic values. We need to promote broad welfare and inclusion instead.
We are in a deep recession right now, our health systems have been tested and our governments are having huge control over our lives. This disruption to normal should be used as an opportunity to let go the non essential things in our lives, our work and institutional routines. Can we re-imagine how we can live and work?
This is a time to consider a reset of the current economic system. The present crisis shows how vulnerable our global system is and that many people are being excluded from help as they lack resources and social protections. The current costs in human, society and monetary terms should make everybody think. Lets resist the attempts to postpone the climate and food transitions or put improving social inclusion and reducing inequality on the waiting list again. Actions of fear, blame, egoism and nationalism must be rejected by offering cooperation, solidarity, compassion and humanity.
We must redesign the current food and agriculture system, reconnect the finance system to the real economy not the speculative. These should be based on markets steered by real, true prices and circular measures, greening of tax systems.
We need to revalue ecosystems on which all our activity depends and build a regenerative economy that respects planetary boundaries and restores the huge damage done in past decades.
A future resilient economy is based on stakeholder business models that respect mutual dependence and connecting communities they serve.