What is the New Economy?

The “new economy” represents an emerging vision for a just, sustainable, and democratic future.

Justice

A new economy must work for all people, starting with those who have historically been marginalized and exploited by racism, imperialism, classism, patriarchy, and other systems of oppression.

Sustainability

A new economy supports regeneration of both human and natural systems. It builds community resilience by rooting wealth and power in place and in service of human needs on a finite planet.

Democracy

A new economy incorporates democratic principles into the management of economic and civic life.

We believe that centuries of economic extraction have undermined aspirations for a democratic society. Concentration of power in the hands of a privileged few is incompatible with the long-term health of our communities and our ecosystems. Structural racism and inequality, coupled with unsustainable consumption and an addiction to fossil fuels, allow this system to persist while spelling out a future with less opportunity and more vulnerability for the vast majority of people.

We can choose to accept this fate or we can demand something different.

All around us, innovators are building cooperative, ethical, and community-rooted enterprises, reclaiming the commons, and democratizing and reorienting finance. We are finding new ways to share skills and goods, measure success, and meet growing human needs on a finite planet. At the same time, our growing mobilizations in the streets are building power to resist and replace unjust systems. Through all of these efforts, a movement is emerging that could change our society and the world.

NEC exists to support this movement.

This movement is not ideologically rigid or one-size-fits-all. Under unjust systems, exploited communities have long experimented with different ways of building community economies as a means of survival. These groups have deep and valuable experience imagining and creating alternatives. We celebrate and learn from the work that came before us, striving to listen and follow leadership from frontline communities in building this new economy for all.

Check out the video below from CommonBound 2016. To learn more about the new economy and what it means, checkout CommonBound's playlist.