Discussions at this year’s Annual Conference for the Friends of Aspen centered on the long-term economic priority of sustainable development for future generations, viewed as an important strategic objective at the macro level for individual national economies, and at the micro level for companies and other market players. It was noted that various competing economic models aimed at achieving this goal are emerging, including the sharing economy, the civil economy, and the positive economy. Within this evolving landscape, the social enterprise is assuming increasing importance as a driver of change in the welfare state, the economy, and the corporate system.
It was stressed that the use of GDP as a predominant indicator no longer addresses the complexity of economic and social systems, and no longer reflects the nature of economic growth, which – especially in Europe – is seeing albeit slight increases in GDP accompanied by a decrease in household disposable incomes. Equitable and sustainable wellbeing and levels of contentment were cited as examples of suitable indicators to complement GDP as a gauge for measuring the performance of advanced economies and social systems.
The participants pointed to relationality as one of the values that are gaining increasing importance, entailing that individuals will play a more active role in economic processes within decentralized markets where, in specific segments, larger firms that are set up as centralized structures may struggle to compete and find market opportunities. Other values highlighted as key to stimulating the growth of economic systems and employment included the centrality of the individual, training and education, the capacity to act at a local level, and the need for firms to adapt to the digital generation’s paradigms. At the same time, a shift was noted in other values, with access to certain goods preferred over ownership, and consumer needs having undergone radical changes. Indeed, in developed economies today, smartphones have become indispensable possessions, whilst cars – which historically fueled economic growth and the pursuit of social freedom – are set to become less and less so.
It was observed that some countries are ahead of Italy in evaluating new economic models and in best business practice, though it was acknowledged that the country does boast robust local systems and notable examples of good practice. Certain for-profit enterprises were, for instance, marked out as having chosen to re-invest gains from their business activities into initiatives that benefit their local communities, with significant results and successes. Attention was also drawn to a number of social enterprises with an international profile that have channeled business profits towards resolving strategic social problems, such as addressing welfare issues, combating water scarcity, countering violence, and providing support for children with serious illnesses. These were characterized as commercially-run organizations, but which compete on the market based on social enterprise models. New business forms were also cited as emerging in Italy in the sphere of the social economy, despite complexities arising both from the lack of clarity regarding what the concept precisely entails and what experiences it covers, as well as from the associated regulatory uncertainty. It was stressed that the training sector remains key for the further development of the social economy, and hence requires significant investment, both to instill responsible practice among younger generations, and to facilitate the spread of proven positive economic models with measurable beneficial impacts on welfare.