What is Economy for The Common Good and where does it come from?
You might have read or heard about the Economy for the Common Good (ECG). The term first came from the Austrian author, various universities lecturer and economist Christian Felber. He wrote a book with the same title and has created an organisation which now has numerous business and country members from all over the world.
In a nutshell, the difference between the current economic model and the ECG model is that the current profit is the most valuable goal of a business and in the ECG the main purpose is the common good.
“ECG is an economic model, which makes the Common Good, a good life for everyone on a healthy planet, its primary goal and purpose.
At the heart of this concept lies the idea that values-driven businesses are mindful of and committed to:
- Human Dignity
- Solidarity and Social Justice
- Environmental Sustainability
- Transparency and Co-Determination
Such businesses gain a competitive advantage in this new economy.”
To really understand it I highly recommend reading the book and it will make much more sense.
What is Marketing for the Common Good?
Marketing is a big part of the business structure and usually considered the worst of it when it comes to moral. I have put it as a mission of mine to change that the same way Christian Felber changed the economic model. I have always tried to use my business in a way that it is helpful to society, not just to my direct customers or purely for personal gains. With my marketing background, I have decided to put this into a movement that hopefully will help more businesses in a transition to an Economy for the Common Good.
I believe that today is the day for this after we have seen how the current economic model has let so many businesses and individuals down. The current business and economy model is just too fragile and the only winners are once again the ones with the biggest profits. It is time to change that and start finding ways of leaving the big personal profit behind and look ahead at thriving together, to end competition and start cooperation.
For any major change to happen it needs to start at the beginning and in marketing, this is in the seven pillars, a.k.a. the marketing mix, a.k.a. 7 P’s:
- Physical evidence
Keep an eye here if you would like to learn more.