Quaker principles for a new economy

There are many organisations working on a fair and sustainable economy, including the Quakers. A project in 2015 produced a series of booklets outlining various aspects of the economy, from work to energy to finance, and some of the fresh approaches that ‘new economics’ could offer.

The team also drew up 10 Quaker Principles for a New Economy, which are reproduced below. They are a great summary of how the economy should function, and there is a lot of overlap with Joy in Enough:

  1. The purpose of the economy is the enhancement of all life, human and non-human.
  2. We do not over-consume the earth’s resources.
  3. All (including future beings) have an equal right to access and make use of global commons such as land, soil, water, air, and the biosphere’s capacity to process greenhouse gases, within the limits of what is sustainable.
  4. Everyone needs time and resources to participate in community life.
  5. The well-being of people and planet are not sacrificed to preserve profits or reduce national deficits.
  6. Since money plays such a key role in the economy, it is created under democratic control, for positive social benefit rather than private profit.
  7. A fundamental equality is recognised, not limited by race, gender or social origin.
  8. The tax system redistributes from richer to poorer, with richer people paying a greater proportion of their income.
  9. Businesses are structured and owned in a variety of ways. Cooperatives and community-owned enterprises form a large part of the economy as well as private and national ownership.
  10. A revitalised, participative and more truly representative democracy is key to our peaceful and prosperous coexistence.

What do you think? Is there anything you would add to that list? What should the key principles of Joy in Enough be? Let us know in the comments.

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