What is the New Economy?

This Post is based on one  of our seminars  “Introduction to the New Economy” that we deliver in several events, workshops and conferences.

Our talks are usually called “Co-creating a New Economy”: these are the two key-words we need to understand.

First of all, “New” & “Economy“. This suggests the existance of an “Old economy”; actually, it is not that old, it is our current economic system, which is based on two main characteristics:

  • The accumulation of capital as the ultimate goal of the system
  • Competition as a basis and means to achieve the above

Oppositely, the New Economy has the common good as its final goal and it is based on collaboration.

Co-creation“:   if our goal is to achieve a new economic system that is based on the common good, it has to be based on the diversity and complexity present in our world;  it should be a changing system that evolves with us and our realities, therefore, it has to be co-created. All new-economy, social movements and others will constantly create this new system in a collaborative way.

We know this sounds very very abstract.

But before going on, why do we want a Systemic Change? Is this a legitimate wish?

We have lived in a capitalist system for the past 200 years, approximately. For sure, we are better off with some indicators when we review them in absolute terms: overall reduction of worldwide poverty, decrease of illiteracy and others. But, it is a system that provokes a great number of negative externalities in an inherent way. Poverty, inequality, climate change and forced migrations are four of the biggest challenges our society faces. Or current system makes them only worse and will always provoke these and many other problems.

In the last years, the social sector has awaken, especially the collaboration of the social sector with the private and public sector; they try to fix these problems. Although this is a very noble cause that has to be pursued, we are not going to avoid the precipice, we are just slowing down our way towards it.

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Infinite growth makes no sense at all says the DeGrowth movement, what are the alternatives? let’s produce and consume less. But not only, let’s share our resources and goods says the sharing economy. Circularity, co-ownership (cooperatives), disruptive inventions that follow nature’s patterns (blue economy), fair trade and solidarity, let’s measure the common good of companies and reward them for it (Economy for the Common Good), let’s work on our cities’ socioeconomic challenges (Transition Towns).  Do you think all of these movements are one-sided proposals? No they aren’t. Our approach is that they are complementary. There is no need to peak one or the other. They offer different solutions to different problems and yes, some of them, solutions /approaches to the same challenges; but having more than one alternative was never a problem per se, was it?

That is the New Economy: a living ecosystem made of extremely valuable alternatives (more than in the pic!).

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These ideas might still sound very intangible. In order to bring these down to some specific characteristics, this is a comparative table where some of the main characteristics of the New and Old Economy can be found:

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We hope you got some hints on the New Economy and we sparked your interest in this topic or increased it. 

Want to know more? Stay tuned! Check the Blog site , visit one of our workshops / events or contact us!

Examples of workshops on New Economy:

  • Workshop on non-financial reporting and transposition of the directive 95/2014: it is our right to claim for more transparency and accountability, let’s take this chance! Link in Spanish, English information here.

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  • Workshop on Happy Management System (HMS): yes, with the New Economy, work is not only work. It is also a place where we can also be happy. Find out tools and workflows with the HMS on how to build good relationships with all stakeholders. (Information in Spanish by now).

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