The Ethical Economy

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A more ethical economic system is now achievable, addressing the crises of our current downturn while tackling the extremes of poverty and wealth. Scholars Adam Arvidsson and Nicolai Peitersen explore what such an economy could look like, tracing its roots in existing innovations within our production, valuation, and distribution systems. Similar to the visionaries of the nineteenth century who sought a more efficient and ethical capitalism, we have the opportunity to create new instruments, institutions, and infrastructure to counteract the decline of our economic environment. They argue that wealth creation can emerge from a new form of social production, allowing continuous capital accumulation to coexist with a desire to enhance social impact. The authors propose that financial markets could serve as a vital space where diverse ethical concerns are woven into economic valuations. They assert that a common standard for this integration has already begun to form, influenced by the rise of social media, which captures the value sentiments of the public. Ultimately, they provide recommendations for leveraging these developments to foster a radical democratization of economic systems and the value decisions they produce.