- Common Wealth
Our current economic system is unsustainable, unfair, unstable and no longer improves our quality of life. The recent financial crisis forced governments to borrow and spend trillions to avoid a global collapse. Unemployment has reached unacceptable levels in many countries. Young people have been left without hope. Millions are on the move, many risking their lives, to find decent work to support their families.
A reformed financial system facilitating common wealth creation must become the new core of our economy. With the right policy initiatives, we can achieve an equitable distribution of income and wealth, as well as reverse climate change and the destruction of natural resources.
To tackle the interlinked financial, food, social and ecosystems crises requires reassessing the rules of finance. The World Future Council has identified best policy solutions to guide our global transition towards sustainable and equitable development.
Our economies and financial markets need to provide opportunities for individual development, social security and wellbeing for present and future generations, whilst promoting behaviour that is environmentally and socially responsible. This requires the right policy framework.
New financial instruments to be tested according to the precautionary principle before they are allowed to be sold as legally enforceable contracts.Read more