COMMONWEALTH ECONOMY. Theory and practice
Lecture and panel discussion with Christian Felber
More than 250 interested people attended the event on the Common Good Economy (GWÖ) at the University of Applied Sciences Fulda on 30.10.2019, to which the Scientific Centre for Society and Sustainability (CeSSt), the Association of Sponsors of the Department of Economics and the Regional Group of the GWÖ in Fulda had invited.
Vision for an Alternative Economic Model: The Common Good Economy
Christian Felber - initiator of the GWÖ - presented his vision of a new economic model. Afterwards, representatives from science, business and politics discussed the GWÖ and its implementation in practice.
The GWÖ model defines the purpose of economic activity and the evaluation of corporate success on the basis of values oriented towards the common good. The basis is the common good balance sheet, which focuses on human dignity, solidarity, ecological sustainability, social justice and democratic co-determination instead of monetary profits.
The Club of Rome - one of the world's leading think tanks on sustainability - describes the common good economy in its new report: "What we need to change if we want to stay" as one of the examples worth highlighting that takes up the challenge posed to us by ecological change - to seriously rethink the economic framework. It invites all people, companies and politics to look at the GWÖ as an orientation framework for new scope for action to make the economy and society fit for the future. The United Nations Economic Commission for Europe (UNECE) and the European Economic and Social Committee (EESC) also attribute great potential to the common good balance. The GWÖ can advance economic and social change and is a practicable model.
"The common good economy is one of the alternative economic models we are dealing with from a scientific point of view, especially with regard to the question of whether and how this model can be put into practice," explained Prof. Dr. Stefanie Deinert, Professor of Business Law at the Faculty of Business and Economics at Fulda University of Applied Sciences and member of the management team at the Centre for Society and Sustainability (CeSSt). She has written a legal report on the GWÖ in which she examines the question of whether companies that report according to the GWÖ fulfil the legal requirements of the CSR Directive and the German CSR-RUG on the obligation to report on non-financial information and diversity aspects. Result: The goals and contents of the GWÖ balance sheet even go beyond the legal requirements. However, some structural and formal adjustments were necessary for full compliance.
