Inclusive Economy: Criteria, Principles and Ubuntu, The

Arno J van Niekerk

Description

There is one serious missing link at the center of today’s capitalism. It is a disequilibrium between increased economic interconnectedness and increased isolation/exclusion. This unique challenge in the 21st century calls for a unique solution: Ubuntu. Africa might be the last place where experts would look for an economic solution, but it ironically holds the secret to restoring the right equilibrium in the economy. Ubuntu’s ability to reconnect the marginalised with the mainstream by putting emphasis on our humanness, connectedness, collective growth through expansion and improved efficiency creates new capacity for the economy to rebalance itself towards genuine and sustainable progress. Ubuntu encapsulates that which is the opposite of economic exclusion (i.e. inequality, poverty, unsustainable growth, limited profits, etc.), namely economic inclusion. However, only a small window of opportunity exists – in and after the COVID-19 pandemic – to implement Ubuntu as a fundamental economic principle in order for it to be an effective remedy. The global economy and most local economies have entered the phase of rebuilding with a serious drawback: after the previous global financial crisis, both the economy and government’s capacity to recover are severely limited as unemployment levels, debt levels and natural resource depletion levels keep soaring, resulting in dangerous levels of economic exclusion and social instability. To this and more, the inclusive economy presents tangible solutions.

Sujets

• Littérature Sud-Africaine
• Littérature sud-africaine

Informations

• Publié par: UJ Press
• Date de parution: 12 août 2022
• Nombre de lectures: 0
• EAN13: 9781776402366
• Langue: English
• Poids de l'ouvrage: 13 Mo

Extrait

The Inclusive Economy Crîterîa, Prîncîpes and Ubuntu

AJ van Nîekerk

The Incusîve Economy: Crîterîa, Prîncîpes and Ubuntu

Pubîshed by UJ Press Unîversîty o Johannesburg Lîbrary Auckand Park Kîngsway Campus PO Box 524 Auckand Park 2006 https://ujonînepress.uj.ac.za/

Compîatîon © AJ van Nîekerk 2022

Chapters © AJ van Nîekerk 2022

Pubîshed Edîtîon © AJ van Nîekerk 2022

Fîrst pubîshed 2022

https://doî.org/10.36615/9781776402366

978-1-7764023-5-9 (Paperback)

978-1-7764023-6-6 (PDF)

978-1-7764023-7-3 (EPUB)

978-1-7764134-6-1 (XML)

Thîs pubîcatîon had been submîtted to a rîgorous doube-bînd peer-revîew process prîor to pubîcatîon and a recommendatîons by the revîewers were consîdered and împemented beore pubîcatîon.

Copy edîtor: Aîda Bucke

Cover desîgn: Hester Roets, UJ Graphîc Desîgn Studîo

Typeset în 10/13pt Merrîweather Lîght

For comments and eedback contact the author at: încusîveconomy@gmaî.com

Contents

Foreword ............................................................................................................ Phî Moee

Introductîon: Our major twenty-first-century economîc chaenge and Ubuntu ..................................................................................

Chapter 1: What îs încusîve economîcs? ............................................... Introductîon ....................................................................................................

Conceptuaîsatîon: What îs an încusîve economy? ...........................

î

1

5 5

6

Theoretîca ramework or economîc încusîvîty ................................ 8 Heterodox economîc theorîes .................................................................... 10 Incusîve economîc theory .......................................................................... 12 Impîcatîons o an încusîve economy .................................................... 17

Concusîon ........................................................................................................ 22

Chapter 2: Incusîve growth ....................................................................... 25 Introductîon .................................................................................................... 25

What încusîve growth îs not: Inequaîty and unettered growth ............................................................................................................... 26

How îs încusîve growth dîferent? .......................................................... 39

What are the components o încusîve growth? .................................. 45 Pro-poor growth ............................................................................................ 45 Broad-based growth .................................................................................... 47 Shared growth ................................................................................................. 50 Incusîve busîness ........................................................................................... 53 Green growth ................................................................................................... 54 Growth that creates rea vaue ................................................................. 58 Faîures o GDP and measurîng încusîve growth ............................... 60

Incusîveness îndex or growth ................................................................. 63

McKîney Incusîve Growth Index ............................................................ 65

Goba Database o Shared Prosperîty (GDSP) ..................................... 67

Dynamîc întegrated measure o încusîve growth ............................. 69

Concusîon ........................................................................................................

7

1

Chapter 3: Genuîne economîc progress .................................................. 77 Introductîon .................................................................................................... 77

The meanîng o genuîne economîc progress ....................................... 78

Theoretîca oundatîon ................................................................................ 80

Measurîng genuîne economîc progress ................................................. 83 Genuîne Progress Indîcator (GPI) ............................................................ 84 Indîces measurîng hoîstîc economîc progress ................................... 92 The System o Integrated Envîronmenta and Economîc Accountîng (SEEA) ........................................................................................ 107

Progress: From înnovatîon or profits to înnovatîon or we-beîng ....................................................................................................... 110

Concusîon ........................................................................................................ 113

Appendîx 3.1: Components, refinements and ormuas o the GPI .............................................................................................................. 118

Chapter 4: The cîrcuar economy ............................................................. 129 Introductîon .................................................................................................... 129

Brîe background and theoretîca underpînnîng ................................. 131

What îs dîferent about the cîrcuar economy? .................................... 139 A dîferent concept o the economy ........................................................ 139 Cîrcuar economy’s hîgher goa: Changîng the processes o productîon, busîness and governance ................................................... 150 Measurîng progress dîferenty – and or a dîferent purpose .... 158

The roe o înnovatîon and technoogy: The dîgîta cîrcuar economy ........................................................................................................... 176

Concusîon ........................................................................................................ 183

Chapter 5: Coaboratîve economy ........................................................... 189 Introductîon .................................................................................................... 189

What îs a coaboratîve economy? ............................................................ 190

Coaboratîve rameworks: The honeycomb mode and the access economy .............................................................................................. 199 Honeycomb 1.0 ................................................................................................ 200 Honeycomb 2.0 ............................................................................................... 202 Honeycomb 3.0 ............................................................................................... 203 The access economy ...................................................................................... 207 Buîdîng a coaboratîve economy: How îs încusîve busîness dîferent rom CSR? ....................................................................................... 213 A new economîc ethos emergîng rom the coaboratîve economy ........................................................................................................... 232

Concusîon ........................................................................................................ 246

Chapter 6: Incusîve economîc poîcîes and înstîtutîons ................. 253 Introductîon .................................................................................................... 253

Incusîve economy matrîx (IEM) .............................................................. 256

A new end goa: Definîng a new economîc agenda ............................. 263

Poîcîes promotîng and enabîng încusîve growth ............................ 269

Poîcîes that ensure genuîne economîc progress and efectîve redîstrîbutîon o încome ............................................................................. 278 Impementîng genuîne economîc progress through poîcy .......... 280 Incusîve tax reorm or better încome redîstrîbutîon ..................... 286 Reorm monetary and financîa systems or stabîîty .................... 295 Buîdîng capacîty through înnovatîve poîcîes: Technoogy and încusîve deveopment ................................................................................. 303 Poîcîes steerîng the economy towards a smart cîrcuar economy ........................................................................................................... 305

Poîcîes that entrench the buîdîng o a coaboratîve economy and government ............................................................................................. 311

Incusîve înstîtutîons ................................................................................... 321

Poîcy process and împementatîon ........................................................ 327

Concusîon: Poîcy ramework and fina recommendatîons ........... 331

Appendîx 6.1: The Sustaînabe Deveopment Goas (SDGs) and încusîve economîes ..................................................................................... 335

Appendîx 6.2: Country exampes o întegratîng we-beîng metrîcs înto poîcy-makîng ....................................................................... 337

Chapter 7: Navîgatîng the Great Transîtîon ......................................... 341 Introductîon .................................................................................................... 341

Resettîng the coordînates: Key actors and prîorîtîes or economîc încusîon ....................................................................................... 343 Settîng hîgher goas through a new commîtment: A socîa covenant ............................................................................................................ 345 Transîtîonîng by means o systemîc change în the economy ...... 355 Put înto proper use the new approaches to measurîng economîc progress ........................................................................................ 362 Innovatîve încusîon în the 4IR to advance the transîtîon ............ 367 Steerîng/navîgatîng the new economy movements ....................... 376 Transîtîon by means o earnîng somethîng specîa: Ubuntu economîcs ........................................................................................ 382

Concusîon: An încusîve economy at our doorstep ........................... 390

Reerences ......................................................................................................... 395

Endnotes ............................................................................................................ 451