Vision and Values - Economy for the common good

Vision and Values

The Future we Choose – An Economy Aligned with Ethical Values

The Economy for the Common Good contributes to a culture of good living in a peaceful and sustainable civilization. This is characterized by human coexistence, trust and appreciation, strong social cohesion and basic human rights.

A Common Good society allows all people to

interact with each other with tolerance and mutual respect for diversity and diverse lifestyles
define their personal values, set their individual goals, find their identity and develop their full potential
develop their talents and skills and, in this way, help them contribute to the Common Good in a meaningful and cooperative manner
actively engage in politics, making democratic decisions and thus helping shape our future

The Economy serves the Common Good

The economy serves the Common Good and no longer simply the accumulation of money and capital. Inequalities in income, wealth and power are kept to a minimum. Consumption of natural resources remains within the regenerative capacity of natural ecosystems and planetary boundaries. Current and future generations enjoy equal opportunities.

Creative business activity leads to innovative solutions for the Common Good. It develops in different types of organizations within reasonable sizes. The companies cooperate intelligently and contribute to resilient structures.

Living in dignity is possible for all people in a common good economy. Work is meaningful and takes place in a multitude of arenas such as private businesses, publicly-owned enterprises, cooperatives, the commons, at home and in volunteer services.

Freedom takes on a deeper meaning. Not only can people shape their own lives, but also collectively design the economic, financial and commercial order. Personal, inner development receives the same attention as the outer environment. People are freed from the unhealthy compulsion to constantly consume, accumulate capital and grow economically.

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Theory behind ECG

“The economic anarchy of capitalist society as it exists today is, in my opinion, the real source of the evil.”

— Albert Einstein, 1949

10 Cornerstones of the ECG

1. The Economy for the Common Good is a bridge to an ethical market economy, whose goal is not the increase of monetary capital, but a good life for all.
2. Human dignity, solidarity and social justice, environmental sustainability and democracy are guiding values.
3. The Common Good Matrix shows how these values can be lived in everyday business life. It is continually being developed and should be decided upon democratically.
4. Companies use the Matrix to draw up a Common Good Balance Sheet. In the Common Good Report, they explain the implementation of the common good values as well as their development potential and make an assessment. The report and balance sheet are reviewed by auditors and made available to the public.
5. ECG companies are recognized and supported by consumers, cooperation partners and common good-oriented sponsors.

6. As compensation for their above-average performance, ECG companies are to receive legal advantages in taxes, loans and public contracts as well as in international trade.
7. Business profits serve to strengthen the companies, generate income and provide for long-term financial security of the owners and employees, not, however, to increase the assets of external investors. Thus, the owners are given the freedom to develop common good-oriented business practices, free from pressure to achieve the highest possible return on investment.
8. The drive for economic growth decreases. Opportunities for a fulfilled life are opened up while preserving our natural resources. In work, appreciation and fairness as well as creativity and cooperation can develop better.
9. Limiting wealth inequalities increases the chances for equal participation of all in economic and political life.
10. The Economy for the Common Good movement invites people to help shape a new economy based on dignity, social justice and environmental sustainability. All ideas for a sustainable economic order should be developed in democratic processes, decided by people as sovereign and anchored in national constitutions.

Frequently Asked Questions on ECG Theory

Where do we stand today?

Where do we want to go?

What is the purpose of business?

How do we assess if this purpose is being fulfilled?

What effect might this have?

What would the economy look like then?

Can this work globally?

How will this be implemented?

Democratic Assemblies – Sovereign Democracy

“Post-democracy” is a field of political science which discusses the crisis state of democracy. Brexit and the elections of populists around the globe are symptoms that democracy does not function as many would like it to. There are, however, signals of hope. In Munich, Germany the people forced the closure of the coal power plant, in Ireland the Citizen Assemblies have proven very effective, and in Iceland, a People’s Constitution has been drawn up by a citizens’ convention.

Economy for the Common Good has developed the concept of “sovereign democracy”. It states that citizens are the sovereign and therefore hold the final say in decisions of national import. The concept of sovereign democracy can be developed step by step over the next years and can then be put into practice. The initial idea consists of a series of reforms and new rights for the sovereign. One of these is the instrument of the “Democratic Assembly”, in which the fundamental questions in a particular city, region or country are discussed and voted on by the population.

Implementation approaches for Democratic Assemblies: