Civil Economy: Difference between revisions
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monitors, credible standards, and vigilant and active civil society | monitors, credible standards, and vigilant and active civil society | ||
associations participating in the marketplace. | associations participating in the marketplace. | ||
There are a number of characteristics of a more civil economy: | There are a number of characteristics of a more civil economy: | ||
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innovation, whether financial or social, through traditional company | innovation, whether financial or social, through traditional company | ||
or other structures, including mutuals and social enterprise. | or other structures, including mutuals and social enterprise. | ||
• Economic actors are clear about their responsibilities and | • Economic actors are clear about their responsibilities and | ||
accountable to their owners, but have due regard for other | accountable to their owners, but have due regard for other | ||
stakeholders, including communities and workers, and for the | stakeholders, including communities and workers, and for the | ||
environment. | environment. | ||
• Institutional owners, such as pension funds, are accountable | • Institutional owners, such as pension funds, are accountable | ||
to their savers and push corporations towards sustainable | to their savers and push corporations towards sustainable | ||
prosperity through responsible management. | prosperity through responsible management. | ||
• Information standards and flows allow for independent scrutiny | • Information standards and flows allow for independent scrutiny | ||
on the part of individuals, civil society and the media. | on the part of individuals, civil society and the media. | ||
• The success of the economy is not measured in terms of | • The success of the economy is not measured in terms of | ||
short-term economic growth or financial gains, but in terms of | short-term economic growth or financial gains, but in terms of | ||
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[[Category:Encyclopedia]] | [[Category:Encyclopedia]] | ||
[[Category: | [[Category:Policy]] | ||
[[Category:Civil Society]] | |||
Revision as of 01:51, 14 April 2011
Description
"A thriving civil economy mirrors a thriving democracy. Constitutional and accountable political institutions supported by political parties, an independent judiciary, a free press, impartial law, civic bodies, and an involved citizenry sustain democracy in a civil society. The parallel institutions of a civil economy can be understood to be constitutional and accountable corporations supported by engaged shareowners and their accountable representatives, independent monitors, credible standards, and vigilant and active civil society associations participating in the marketplace.
There are a number of characteristics of a more civil economy:
• It is open and pluralist, welcoming entrepreneurship and innovation, whether financial or social, through traditional company or other structures, including mutuals and social enterprise.
• Economic actors are clear about their responsibilities and accountable to their owners, but have due regard for other stakeholders, including communities and workers, and for the environment.
• Institutional owners, such as pension funds, are accountable to their savers and push corporations towards sustainable prosperity through responsible management.
• Information standards and flows allow for independent scrutiny on the part of individuals, civil society and the media.
• The success of the economy is not measured in terms of short-term economic growth or financial gains, but in terms of the sustainable well-being of current and future generations." (source: http://p2pfoundation.net/Inquiry_into_the_Future_of_Civil_Society)
Source
This draws on the work of Davis, S., Lukomnik, J. and Pitt-Watson, D. (2006), The New Capitalists: How Citizen Investors are Reshaping the Corporate Agenda (Boston: Harvard Business School Press)