Economic Reckoning: Redesigning our Economy for Sustainable Prosperity
During the lockdown isolation in northern Italy due to the COVID-19 pandemic, I took a moment to reflect on the frameworks that I have been teaching MBA and executive students for many years. As I pondered the broken economic system and its consequences for society and the environment, it became clear to me that our current economic system was no longer adequate.
The impacts of the pandemic, along with social unrest and the exploitation of our planet, highlighted the flaws in our current economic framework. The system had allowed a small group of well-informed actors, such as Big Tech companies and their platforms, to manipulate it for their benefit while disregarding the well-being and prosperity of others. This realization led me to question how business school professors like myself could address these issues.
It was clear that changes were necessary to ensure a more equitable and sustainable future for all. As a journalist who has rewritten numerous articles on this topic, I have come to believe that there is a need for a shift in thinking and action when it comes to our economic system. It is no longer enough to focus solely on profits and growth; we must also consider the impact of our actions on society and the environment. This means taking a more holistic approach to business, one that prioritizes sustainability, equity, and social responsibility.
As we continue to navigate through these challenging times, it is important that we take action now to create a better future for all. By shifting our thinking and taking action towards a more sustainable economy, we can create a world where everyone has access to resources and opportunities regardless of their background or location.
In conclusion, it is time for us as business professionals and educators to take responsibility for creating an equitable and sustainable economy. We must recognize that our current economic framework is not enough and we must strive for change towards a better future.
