From What If to What Next 72 - What if we shifted to a not-for-profit economy?
Apr 4, 2023
Della Duncan, a renegade economist focused on post-capitalist economics, and Jennifer Hinton, a systems researcher and activist for a sustainable economy, dive into the transformative idea of a not-for-profit economy. They discuss how shifting away from profit motives could reduce inequality and ecological harm. With inspiring examples, they outline practical steps for businesses and nonprofits to adopt this model, emphasizing community connection and mental health benefits. Imagine a future where everyday life thrives without the profit chase!
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Profit-Oriented Design Produces Systemic Harm
- Our economy is organized to make money for private owners rather than meet people's needs or ecological limits.
- This structure drives inequality, environmental harm, and systemic failures rather than solving them.
Legal Purpose Changes Business Behavior
- Not-for firms legally bind a social-benefit purpose and prevent private profit extraction.
- Owners cannot distribute surplus; profits must be reinvested to serve community or environmental aims.
A Third Path Between Capitalism And State Planning
- A not-for market economy can be decentralized and market-driven without capitalist profit extraction or centralized state planning.
- Markets, commons, and government each play roles: sharing networks and not-for firms fill needs while government handles large public services.
