The economy is a social field whose fundamental task is to create the conditions for meeting the basic needs of every individual and for the well-being of humanity, including care for the environment.
Just as politics is concerned with leading and organising society into a functioning whole, the economy is concerned with its material side. It creates the material conditions of life for individuals and society as a whole.
That is why politics and the economy are so important and closely connected. The life of each of us is strongly shaped by the way they function.
In a narrower sense, political and economic systems directly shape these two fields. They determine their institutions and political and economic relations.
Today’s economic system, supported by politics, creates great inequality: on the one hand, widespread poverty and hunger, and on the other, immense wealth for a small part of humanity. This inequality is one of the root causes of the world’s greatest problems: social conflicts, wars, migration, the climate crisis and more.
Political and economic systems are built by people. They therefore change in line with our values and beliefs. Of course, more powerful actors have greater influence, but it is still people who shape, accept and maintain a particular political and economic system.
This means that we can also change these systems, which is good news. The first change needed is a shift in the economic system, since it causes many of the world’s greatest problems and crises.
The economy must not be separated from human values such as compassion, care for others, solidarity, respect and, ultimately, love. We cannot simply separate it from life and say that it is merely business as usual.
We cannot be caring parents, loving partners, good friends and considerate neighbours, and then, in companies and corporations, destroy the environment, exploit people in poorer countries and undermine their economic systems through financial instruments. These things simply do not belong together.
The way we behave towards those closest to us should also guide our behaviour towards all other people, in politics, companies and other institutions. The economy should express the best in human beings, not the worst: selfishness, greed, competitiveness and hatred.
Therefore, the fundamental task of the economy can only be fulfilled through compassion, solidarity, respect for others and the capacity to express love. In practice, especially in the economic sphere, these human qualities are expressed as the sharing economy.
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