By Alejo Etchart, Reconomy Project
The inability of economics to internalize social and environmental externalities makes it so that it essentially serves capital through a debt-based economic growth; thus moving away from its primary goal: the correct distribution of scarce resources in order to satisfy human needs. As a consequence, unless a dramatic change in the path of development is implemented, it (the economy and our economic system) is leading us to an abyss. On the flip side, the re-localization of economies and lifestyles, linked to the rise of social businesses and to the potential of cooperatives as a social form for a more equitable distribution of wealth, inspires an opportunity to reorient human evolution towards wellbeing-generation and the creation of a system that is resilient to the threats that the world is facing. Hundreds of cases now exist in which neighborhood communities are assuming an increasing role in the decisions that affect their own future. The key to an encouraging future might lie in providing these socially and environmentally desirable approaches with economical viability.