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The cooperative economy may provide a sustainable solution for a flawed system

During my time in lockdown amidst the COVID-19 pandemic, I was forced to reflect on the teachings I have been imparting to my MBA and executive students for many years. The current global situation, marked by inequalities, the dominance of a few major platforms, ineffective economic policies, depletion of natural resources, social unrest and economic devastation caused by the pandemic led me to question the effectiveness of our economic system. It seemed clear to me that the existing framework was broken and no longer serving its intended purpose.

As a business school professor, I felt compelled to explore how educators like myself could address these issues and contribute to creating a more sustainable and equitable economic system. It became apparent that our economic system had become entrenched, allowing a few well-informed actors such as Big Tech companies and their platforms to exploit the system for their benefit at the expense of others. This exploitation had severe repercussions for both individuals’ well-being and the planet as a whole.

Through my reflections, I realized that we need a new approach to economics that prioritizes sustainability, equity and people’s well-being over profit maximization. We need an economic system that recognizes that we are all interconnected and that our actions have consequences not only for ourselves but also for future generations. As educators, it is our responsibility to equip our students with the knowledge and skills necessary to navigate this new landscape and contribute to creating a better world for all.

By Samantha Jones

As a dedicated content writer at newsaca.com, I bring a unique blend of creativity and precision to my work. With a passion for storytelling and a keen eye for detail, I strive to craft engaging and informative articles that captivate our readers. From breaking news to thought-provoking features, I am committed to delivering content that resonates with our audience and keeps them coming back for more. Join me on this exciting journey as we explore the ever-evolving world of news and information together.

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