Let’s build an economy that works for everyone

Today SCVO launches its An Economy for All report into how we can make the economy work for the many, not just the few. As a sector, we have a unique perspective on the economy. We know how poor economic choices have impoverished families across Scotland and abroad, damaging communities and their environments. An Economy for All contains four principles that bring that knowledge to the economic debate, encompassing the biggest issues that the third sector comes up against time and again when working with people in communities across Scotland. These four principles for our economy are: 1. The well-being of people across Scotland must be the end goal of our economy 2. All work must be properly valued, decently paid and secure 3. The value of unpaid contributions to the economy and society must be recognised 4. The economy is a part of our environment and we must use our economy to enhance, not destroy, it These principles should not just be followed to do good. They should be followed because they will reduce inequality, and reducing inequality will make our economy stronger. The report also brings together suggestions from across the world about how we can make the economy work better. Some are radical, and some less so. But all of them can be implemented within our capitalist system, so we are not demanding a complete overhaul of the status quo. An Economy for All looks at a range of options, including:

• An increase in employee-owned businesses
• A genuine move away from Gross Domestic Product as the main means of measuring success in the economy
• An increase in the minimum wage, so that people are paid fairly

The report also looks at two more unusual ideas – a shorter working week and a Citizen’s Income. Both of these would enable people to have more time to contribute to society and their communities, and would allow everyone’s input into society to be valued. None of these ideas are new. But together they could solve a lot of problems, and make the economy work for everyone. So have a read, and let us know what you think.