First Policy Paper on the Common Good Product is available!
The Policy Papers are developed by Economy for the Common Good (ECG) experts to introduce and contextualise ECG tools and topics, backed by theoretical and practical research. A thorough yet concise and simple presentation of findings and recommendations on specific issues. These cornerstone documents serve to draw clear and specific information for communication, or education purposes. ECG Policy Papers are suitable for the general public, policy makers and academics alike.
The Common Good Product (CGP) is a new, innovative measure that can be used by policymakers and societies to overcome these limitations. Instead of endless material growth on a limited planet, it reveals the well-being of people and nature. It helps politicians to enact legislation based on their actual contribution to the common good and to track progress in areas such as climate security, ecological regeneration, health, poverty alleviation or equality. Gross Domestic Product (GDP) is not designed to support human and planetary thriving. It fails to inform decision-makers how sustainable our economies really are. This is because money is not the goal of the economy. The GDP aims at increasing growth, regardless of planetary boundaries and thus at the cost of future generations.
In the face of climate change and growing inequality, our current way of measuring economic success has failed. However, there are alternative metrics which would allow societies to become more sustainable. A democratic bottom-up process could define society’s common values and objectives. The Common Good Product can resolve two issues at the time: the lack of citizens’ involvement in fundamental political decisions and a more assertive compass for our economy. Determined in a participatory and inclusive process, it can incorporate the core values of a society, thereby strengthening democracies and the co-creation of a shared future.
There is a growing global consensus that it is time for a fundamental change in our economies. It is time for a radical shift in our mindsets. Adopting and promoting the Common Good Product can be a powerful lever to make that shift.
The CGP Policy Paper is the first of a series and is already available in: English, German and Spanish here and in the campaign website.
