We live in a world facing many destructive and entwined crises – including growing inequality, climate change, poverty, pollution and human rights violations. Our current economic system is perpetuating and exacerbating these crises.
Over the last 30 years, neoliberal fundamentalism has been the dominant global economic ideology. It aims to reduce the role of the state through privatization, deregulation (reducing standards), liberalization (removing trade restrictions) and limiting taxation. This corporate framework has failed, leading to untold environmental destruction and soaring inequality by reducing the freedom of governments to pursue social and environmental goals.
But thousands of practical solutions for a more just and sustainable world exist, putting citizens and the environment at the centre.
In a new report, Friends of the Earth International examines five of these economic justice solutions to end the era of neoliberalism and reshape our global economy towards sustainable societies:
- Providing public services for all through tax justice
- Scaling up economies based on social ownership and cooperativism
- Supporting local markets and fair trade
- Valuing and measuring the wellbeing of people and planet
- Ensuring binding rules to dismantle the power of big business
Our challenge is to scale up the impact of these solutions to achieve systemic change.