An alternative vision of the economy
The economy is often presented as a monolithic entity, but it is crucial to recognize its intrinsic diversity. The disturbing political and economic instability that has increased in recent years has generated a climate of bewilderment. Since the bankruptcy of the banking system and the real estate sector in 2008, public debt has experienced a dizzying increase, from 39% to 100% in a short time. This dynamic has made the economy a reality more and more far from the daily needs of people, despite the fact that its original function should be common well -being.
The economy of the common good: a new paradigm
In 2010, Austria witnessed the birth of a movement that seeks to reverse this tendency: the economy of the common good (EBC). This model proposes a redefinition of economic success, prioritizing its contribution to the common good over individual benefit. The aim is to restore its essential purpose to the economy: to serve the society as a whole.
Fundamental values of the EBC
The EBC’s proposal is based on four pillars: human dignity, social justice, economic sustainability and democracy. These values are essential to guide economic actions towards a fairer and more equitable model. The question is, how can these principles be implemented in practice?
Correcting imbalances: concrete proposals
At the macroeconomic level, the EBC seeks to address inequalities through mechanisms that limit excess and promote the notion of ‘democratic commons’. This idea applies to sectors such as health and education, as well as a reform of the financial system that recovers the function of public banking. In addition, it is proposed that citizens actively participate in the definition of what is called ‘product of the common good’, an indicator that should complement GDP.
A global look
An interesting aspect is that the United Nations has been publishing reports on global happiness for more than a decade, analyzing the satisfaction of citizens in 156 countries. Factors such as life expectancy, generosity and social support are key components of this study. This perspective reinforces the idea that the search for the common good is a collective and global effort.
Measuring the common good: practical tools
In order to quantify the contribution to the common good, the EBC has designed the ‘balance of the common good’. This tool allows organizations to evaluate their relationship with the different stakeholders through EBC’s own values. The result is a score that can serve as a basis for continuous improvement. In addition, this report complies with current non -financial reports.
Parallels with the social doctrine of the Church
One aspect that we cannot overlook is the connection between the EBC and the social doctrine of the Church. The principles of human dignity, well common, subsidiarity and solidarity reside deeply with the values promoted by the EBC. In fact, the term ‘common good’ is mentioned about 200 times in the compendium of the social doctrine of the Church.
Pioneering and future initiatives
In this context, Caritas Diocesan of Barcelona has decided to adopt the principles of the EBC in its sustainability memory by 2024. This decision represents a significant step towards a model that not only seeks transparency but also aligns. With its objectives and lines of action. Through its transparency portal, this information can be accessed, which will mark the beginning of a new age of innovation and commitment in its mission.