Gemeinwohl-Ökonomie - ein Wirtschaftsmodell mit Zukunft | Christian Felber | TEDxKollerschlag

Quick Overview

Christian Felber argues that the current economic model, focused on capital accumulation, is flawed and must be replaced by the "Economy for the Common Good" (Gemeinwohl-Ökonomie), which he developed based on ancient philosophical principles contrasting with modern market logic, aiming to measure success by ethical values like fairness, solidarity, and ecological sustainability rather than just profit.

Key Points: Felber advocates for the Economy for the Common Good (GWÖ) as a necessary alternative to the current profit-driven economic model, which he claims leads to issues like climate crises and social inequality. The GWÖ model, conceived by Felber, relies on ten core values including fairness, solidarity, ecological sustainability, social justice, and democratic participation. He notes that the concept of balancing economic success with higher ethical values is not new, referencing Aristotle's distinction between two types of economy (one focused on mere sustenance, the other on 'good living'). Felber highlights that 1,400 organizations and several regions/cities already use the GWÖ balance sheet, which measures success based on these values rather than solely on financial metrics like GDP. He points out that the current system favors capital-intensive industries (like automotive and energy) over labor-intensive ones (like baking and care work) because capital accumulation is prioritized over ethical considerations. Felber emphasizes that the goal is to create a framework where ethical values (like fairness, dignity, and sustainability) are integrated into business metrics, leading to better overall societal outcomes.

Context: Christian Felber is presenting at TEDxKollerschlag about his concept, the Economy for the Common Good (Gemeinwohl-Ökonomie). This economic model seeks to redefine success beyond mere financial profit by integrating ethical and social values into a formal balance sheet, contrasting sharply with the traditional market economy's focus on capital accumulation and growth metrics like GDP.