Rebalance our economy with the Common Good Product
Reequilibrar nuestra economía con el Producto del Bien Común
Uno que se mida a través del Producto del Bien Común y no del Producto Interior Bruto.
Un sistema económico sólo puede ser socialmente justo y ambientalmente sostenible si tiene estructuras incorporadas para prevenir el daño e incentivar el comportamiento responsable. Ahora, después de que Covid haya devastado nuestra normalidad como un huracán que barre la costa y de que el cambio climático amenace nuestra propia existencia, debemos aprovechar el impulso para hacer ese cambio hacia una economía adaptada al futuro. En lugar de tratar los síntomas, debemos abordar la causa fundamental de nuestra crisis global: nuestra actual forma de medir el éxito económico.
El Producto Interior Bruto (PIB) no está diseñado para apoyar la prosperidad humana y planetaria. No informa a los responsables de la toma de decisiones sobre la sostenibilidad real de nuestras economías. Esto se debe a que el dinero no es el objetivo de la economía. Es el medio para hacer crecer el bien común. El crecimiento del PIB es poco más que una agregación de transacciones de mercado medidas en términos monetarios, como la producción y venta de camisetas o de armas, independientemente de si contribuyen al bienestar humano o lo perjudican. El PIB pretende aumentar el crecimiento, sin tener en cuenta los límites planetarios y, por tanto, a costa de las generaciones futuras.
Sin embargo, existen métricas alternativas que permitirían a las sociedades ser más sostenibles. El Producto del Bien Común desplaza el foco de la medición del éxito de los medios (dinero y capital) a los objetivos (bienestar o bien común). El Producto del Bien Común es una medida innovadora que puede ser utilizada por los responsables políticos y las sociedades para superar las limitaciones del PIB. En lugar de un crecimiento interminable en un planeta limitado, su objetivo es aumentar el bienestar de las personas y la naturaleza. El Producto del Bien Común ayuda a los políticos a promulgar leyes en función de su contribución real al bien común y a hacer un seguimiento de los avances en ámbitos como la seguridad climática, la regeneración ecológica, la salud, la reducción de la pobreza o la igualdad. Con este marco, sería más fácil incentivar la actividad económica que contribuye al bien común, mientras que los free riders se encontrarían con mayores obstáculos que en la actualidad.
Un proceso democrático ascendente podría definir los valores y objetivos comunes de la sociedad. Determinado en un proceso participativo e inclusivo, puede incorporar los valores fundamentales de una sociedad, fortaleciendo así nuestras democracias y la cocreación de nuestro futuro compartido. El Producto del Bien Común puede resolver dos cuestiones en este momento: la falta de participación de los ciudadanos en las decisiones políticas fundamentales y una brújula más asertiva para nuestra economía.
Existe un creciente consenso mundial de que ha llegado la hora de un cambio fundamental en nuestras economías. Es hora de un cambio radical en nuestra mentalidad. Adoptar y promover el Producto del Bien Común puede ser una poderosa palanca para realizar ese cambio. Robert Kennedy dijo en 1968 "El Producto Interior Bruto lo mide todo, excepto lo que hace que la vida merezca la pena". El PIB no es -ni puede ser- la única medida del progreso nacional. Por ello, les pedimos que reequilibren nuestra economía permitiendo el desarrollo y la puesta en marcha de un Producto de Bien Común, a nivel nacional, regional y local. Excelencias, el momento de cambiar nuestro sistema económico es ahora. Se necesita urgentemente su liderazgo político.
One that is measured through the Common Good Product rather than the Gross Domestic Product.
An economic system can only become socially just and environmentally sustainable if it has built-in structures to prevent harm and to incentivize responsible behaviour. Now, after Covid has devastated our normality like a hurricane sweeping the coast and climate change is threatening our very existence, we must seize momentum to make that shift to a future-fit economy. Instead of treating symptoms, we must address the root cause of our global crisis: our current way of measuring economic success.
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. It is the means to grow the common good. GDP growth is little more than an aggregation of market transactions measured in monetary terms, such as the production and sale of t-shirts or weapons, regardless of whether they contribute to – or harm – human wellbeing. The GDP aims at increasing growth, regardless of planetary boundaries and thus at the cost of future generations.
However, there are alternative metrics which would allow societies to become more sustainable. The Common Good Product shifts the focus of success measurement from the means (money and capital) to the goals (wellbeing or common good). The Common Good Product is a new innovative measure that can be used by policymakers and societies to overcome the limitations of GDP. Instead of endless growth on a limited planet, it aims at increasing the wellbeing of people and nature. The Common Good Product 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. With such a framework, it would be easier to incentivise economic activity that contributes to the common good whilst free riders would meet higher hurdles than today.
A democratic bottom-up process could define society’s common values and objectives. Determined in a participatory and inclusive process, it can incorporate the core values of a society, thereby strengthening our democracies and the co-creation of our shared future. 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.
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. Robert Kennedy said in 1968: “The Gross Domestic Product measures everything except that which makes life worthwhile.” GDP is not – and cannot be – the only measure of national progress. Therefore, we call on you to rebalance our economy by enabling the development and roll-out of a Common Good Product, at national, regional and local levels. Excellencies, the time to change our economic system is now. Your political leadership is urgently needed.
Sincerely,
Signatories Posted 18 October 2021
Rebalance our economy with the Common Good Product
In the face of climate change and growing inequality, our current way of measuring economic success is unfit. 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.
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 growth on a limited planet, it aims at increasing the wellbeing of people and nature. It shifts the focus of success measurement from the means to the goals.
The Gross Domestic Product measures
- Production of goods and services at markets
- Goods and services sold at markets
The Common Good Product measures
- Sustainability
- Human rights
- Democracy
- Inequality
- Quality of Life and Happiness
- Gifts to society
Supporters
Kate Raworth
Economist and Author of “Doughnut Economics”
“In order to create economies that thrive, nations need to be guided by metrics that reflect the Common Good. I look forward to seeing the results of this innovative initiative – crowdsourcing a new approach to assessing the health of the future economy.”
Robert Costanza
Ecological Economist
“The successor to GDP should be a new set of metrics that integrates current knowledge of how ecology, economics, psychology and sociology collectively contribute to establishing and measuring sustainable wellbeing.”
“It is often said that what you measure is what you get. Building the future we desire requires that we measure what we want, remembering that it is better to be approximately right than precisely wrong.”
Christian Felber
Founder of Economy for the Common Good, lecturer at the Vienna University of Economics and Business, co-founder of Attac Austria and a contemporary dancer
“The Common Good Product would finally measure and make visible the achievement of real goals, rather than only accounting the accumulation of means.”
Sharan Burrow
General Secretary of the International Trade Union Confederation (ITUC)
“People and planet must be at the heart of just and resilient economies. Therefore governments have a responsibility to manage their budgets beyond a narrow prescription of GDP. The must invest in sustainable jobs in care and infrastructure along with social protection and ensure that peoples human and labour rights with environmental standards are at the heart of an economy for the common good.”
Mike Bronner
President of Dr. Bronner’s
“As a company dedicated to using business to do good, we are committed to measuring our social and environmental performance according to an independent third party standard. Why should governments not do so as well?”
Martin Rich
Co-founder & Executive Director
Future-Fit Foundation
“We will only achieve a Future-Fit Society – one that is environmentally restorative, socially just and economically inclusive – if we target the right outcomes. Replacing GDP with Common Good Product would be a huge step in the right direction.”
Dominik Eulberg
Biologist, DJ, Environmental Activist
“I want the G20 to secure biodiversity and not only profits.”
Lebohang Liepollo Pheko
Senior Research Fellow and political economist at the think tank Trade Collective
“Neoliberal economics suggests that markets are self-correcting. This unwarranted faith in the so-called ‘invisible hand’ of the market continues to cause cycles of market failure, economic volatility, rent-seeking, corporate corruption and social marginalization particularly of the Global South.”
Carolin Stüdemann
CEO Viva con Agua
Viva con Agua is a network of people and organizations committed to establish access to clean drinking water and basic sanitation for all humans worldwide.
“Viva con Agua is driven by a strong purpose of which all activities are aligned. The clarity and transparency creates credibility and ensures that people are supporting us. We are the proof that the total change im mindset the Common Good Product requires actually works.”
Helena Norberg-Hodge
Linguist, author and film maker. Helena Norberg-Hodge is the founder and director of the international non-profit organisation, Local Futures, a pioneer of the new economy movement, and the convenor of World Localization Day
FC St. Pauli
Board of FC St. Pauli
“Football is about team effort. That’s why we at FC St. Pauli support the concept of the Common Good Product.”
Pedro Tarak
Global ambassador of the Wellbeing Economy, global ambassador of the B Corp Movement
“If we measure what is real – through holistic economic, social and environmental value creation – then we can make sound and realistic decisions for society and the Planet for today and tomorrow.”
Stefan Voelkel
Pioneer of the organic movement, managing director Voelkel organic juices
“Biodiversity- and climate crisis are serious threats to mankind. The leaders of the world must take actions NOW. The Gross Domestic Product is as outdated as limited. Why use a thermometer when you have the full set of modern anamnesis devices at hands?”
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