Reassessing Our Economic Framework: Reflections on a Time of Uncertainty and Change

A cooperative economy: a sustainable solution for an unstable system

In my time in lockdown isolation amidst the COVID-19 pandemic, I took a moment to reflect on the frameworks that I have been teaching MBA and executive students for many years. The pandemic, along with social unrest and the exploitation of our planet, highlighted the flaws in our current economic framework. It became clear to me that in a world plagued by growing inequality, the dominance of a select few major platforms, ineffective economic policy, and the depletion of natural resources, our economic system was no longer adequate.

As I pondered the broken economic system and its consequences for society and the environment, it became apparent that changes were necessary to ensure a more equitable and sustainable future for all. I considered how business school professors like myself could address these issues and questioned whether we were doing enough to create meaningful change.

I realized that we needed to shift our thinking and action to create a more sustainable and equitable future. It was clear that current structures were unsustainable in the long run and would only lead to further harm if not addressed. It was time for us to take action and make changes to ensure a better future for all.

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