Commetta

4/9 NEW ECONOMY – SriSri University Monograph 2019

4/9 NEW ECONOMY – SriSri University Monograph 2019

Share Article
Share on facebook
Share on twitter

LEADING A DIGITAL ERA

January 2019

By Natalie Riviere, CEO, Commetta Communications.

NEW ECONOMY

Our economies now represent the systems of production, distribution, trade and consumption, locally and across the globe. The word currency is derived from Middle English: curraunt, meaning “in circulation” (8) and as a member of society, the relationship of how and when money circulates towards you is a significant one to understand.

Like leadership, the economy has evolved through different systems and schools of thought: 

“economic systems are differentiated according to how the dominant class gets the
surplus. The ways that the dominant class can get control over the surplus generated
within the economy is limited only by the imagination: an astounding number of
different economic systems have appeared in human history. A relatively small number of economic systems, however, have played a central role in economic history: kinship production, feudalism, capitalism, slavery, and socialism.” (9)

The birth and use of the internet introduced digital currencies gaining popularity, and a “New Economy” characterized by cutting-edge technology and high growth. (10) However unfortunately some of the ways in which money can been manufactured has made our modern barter system significantly out of balance. In the 2017 Global Wealth Report by the Swiss Bank it was stated that “the richest 1% now owns more than half of all the world’s household wealth.” (11)

In societal efforts to amend this disturbing disproportion and take Corporate Social Responsibility, terms like Sharing, Conscious Capitalism and Benefit (B) economies have emerged. A triple bottom line is now known in business to prioritize People, and the Planet, as equal if not more significant priorities to mere Profit, where purpose and stakeholders are valued alongside the shareholders of an organization. In these economic systems, to quote Sir Richard Branson, business “can be a force for good” (12) and used to be the change you wish to see in the world. “To build a B Economy, we need a new kind of business that balances purpose and profit. B Corporations are businesses that are legally required to consider the impact of their decisions on their workers, customers, community, and environment. Certified B Corporations have met the highest standards of verified performance and transparency.” (13) 

In my personal efforts to support and be this change, I choose to practice and encourage social entrepreneurship.

More Storytelling

Be the first to receive our Storytelling

Subscribe to Commetta’s newsletter & learn what it means to #ShineOnline, #MakeWaves & #BTheChange.