Tellus Institute - For a Great Transition

What form might the global economy take in a just and sustainable planetary society? What actions and policies will foster such a transition? The Economic Systems Program addresses these questions through exploration of alternative economic institutions that serve the goals of human well-being, equity, and sustainability. In so doing, it challenges the dominant view that equates economic globalization with free market policies.

New global economic systems must be articulated at various scales—local, regional, national, and global—and consider the interactions between them. Three key principles guide such systems: subsidiarity, the retention of economic decision-making at the smallest geographic scale possible; responsibility, the requirement that economies at all scales are aligned with environmental and social commitments arbitrated at a higher level; and pluralism, the recognition that multiple economic models are possible with the framework of universal principles, reflecting diversity in lifestyle choices, values, and traditions.

The program’s activities include:

  • Research – defining the set of human rights and environmental requirements to which economic systems must adhere; evaluating alternative mechanisms for capital formation and allocation; evaluating the appropriate role of markets and trade for each sector of the economy; and developing institutional and regulatory options for managing environmental, social, and community impacts of industry and finance.
  • Visioning – refining economic scenarios that are compatible with Great Transition principles and values, and publishing and presenting the results widely.
  • Engagement – building collaborative networks, convening forums and meetings, developing political strategies to implement these visions, and advancing strategies and policies for shifting development towards a new vision.

*NEW*Visions of Regional Economies in a Great Transition World*NEW*
This paper reviews past economic systems and examines how values of environmental sustainability and social justice might shape a new economy in the twenty-first century. It is published as part of the GTI Paper Series, Frontiers of a Great Transition.

Program leader: Dr. Richard Rosen
Contact: rrosen@tellus.org