Which Economy

An economy worthy of the name

Anyone who has studied economics will know the original meaning of the Greek term ‚oikonomia‘, from which our current word is derived. The ancient Greek word meant the appropriate management of the household, striving for the welfare of all those belonging to a household or corporation. Few people will know that the term also originates as a synonym from theological terminology and denotes God’s action aimed at the comprehensive well-being of human beings and creation. In a mirror image, as it were, the profane use of the term denotes action directed toward the well-being of all. In this sense also the trade, as exchange or purchase business, is understood as an action aligned to the holistic well-being and happiness of the community. Today we have long known that the community of destiny to which we all belong goes far beyond a Greek city-polis of that time and connects us universally not only with all human beings in the world, but also with nature. A globalized economy that identifies with its meaning in the truest sense of the word must rise to the challenge of serving the universal good in order to strive for a prosperous future for all, including nature and its biodiversity. For without a holistic future, there will be no economy. Therefore, the economy should not saw off the branch on which it has placed itself in its literal sense with a ‚rally‘ that is only one-sidedly oriented towards monetary profit, price gains and Dax records. Only an economy worthy of the name will be able to survive in the long term and generate multi-layered profits that serve the well-being of all and the future of this planet.