Designing an Impact Economy
Updated: Jul 21
As economies across the world navigate through the COVID-19 pandemic, its increasing and uncertain ferocity continues to shake the festering social, political, and economic equilibriums, especially across the Global South. Beyond the staggering economic impact, the pandemic is set to have a severe socio-economic impacts on unemployment, plunging investments, and fissures in trade and supply linkages.
What we need in this decade is a new economic paradigm – the Impact Economy – an economy which thrives on creating meaningful impact in lives of individuals, societies and nations and we need three things for that: shared goals, resources and change designers.
We want those who balance profits with societal good and those who enable a new system to act in ways that lead to the best social and economic outcomes for everyone. In our theory of change, we call
this goal the
By revealing the crumbling economic systems, and fragility of lives and incomes across the world, the COVID_19 pandemic has made it clear that we need to sketch a new economy.
At Sankalp, through the New Ideas’ Series, we will engage stakeholders and thought-leaders to determine how to bring about faster change in the present paradigm.
First in the series.
What should the impact economy look like?
Through a series of dialogues, we would like to examine and uncover this new paradigm, using the following components-
The Financial System: What will be the architecture of a new financial system to play a better role to serve the needs of society (rather than society serving the needs of the financial system).
Enterprises: What should be the form of business enterprises for wealth to be generated and aggregated at the bottom, in the hands of workers and customers, rather than flowing out to financial investors elsewhere.
Impact Economy: The ‘new economy’ and the new institutions would require resources from the existing institutions. How will stakeholders collaborate more effectively respecting each other’s needs? How can we ensure that we do not waste the crisis of the pandemic to merely recover the institutions of the old economy rather than creating new forms of institutions.
To navigate this conversation, we are delighted and honoured to have
Mr Arun Maira, former Member of the Planning Commission of India and
Former Chairman of the Boston Consulting Group.
Mr. Maira would lead this dialogue series along with industry experts, sector
leaders, academics, entrepreneurs and grassroots champions
Our distinguished panel includes:
Ms. Renana Jhabvala- Indian Social Worker and Chairperson, SEWA
Mr. Luis Miranda- Chairman, Centre for Civil Society and CORO
Mr. Vineet Rai- Founder, Aavishkaar Group
Please register here.
As we reverse engineer the key components for the Impact Economy, that we seek to build, at the Sankalp Summit, we will focus on the force of the fireflies of the Impact Economy- Social Entrepreneurs.
Join us, as we convene global leaders from the impact investment community, Entrepreneurs, Businesses, Academics, Philanthropists, Governments and sector leaders to script a new story of our socio-economic paradigm.
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