The Human Economy : That Serves The Needs Of The 99%
— By Sajid Mollah
The concept of a "Human Economy" seeks to reshape the global economic system in ways that prioritise people over profits, community wellbeing over corporate greed, and sustainability over rampant consumption. Unlike the dominant Neoliberal economic model, which focuses on maximising shareholder value, capital accumulation, and individual wealth, the human economy envisions a system that serves the needs of the 99%—the vast majority of people whose interests are frequently ignored in favour of the richest 1%. The human economy is founded on the values of equity, justice, inclusion, and democratic participation, with the goal of creating an economy that not only meets fundamental human needs but also promotes human flourishing. At its foundation, the Human Economy questions the underlying assumptions of existing capitalist models, advocating for a reorientation of economic activities to ensure that everyone, not just a select few, reaps the advantages of economic prosperity.
Fairness is an important feature of the Human Economy. It aims to address the severe inequities that have become trademarks of modern economies, where the rich-poor divide continues to expand. This paradigm supports policies that eliminate income and wealth inequality, such as progressive taxation, living wages, and universal access to education and healthcare. It advocates for resource redistribution in ways that benefit marginalised areas and ensures that everyone, regardless of socioeconomic status, has an equal opportunity to achieve. The Human Economy recognises that economic disparity is a moral and ethical concern that threatens societal cohesiveness and stability. In contrast to the extractive and exploitative behaviours that characterise today’s industries, a human economy prioritises sustainability and environmental responsibility. It acknowledges that the economy cannot exist without the natural world and that the constant pursuit of growth at the expense of the environment is unsustainable in the long run. Thus, the Human Economy prioritises the development of regenerative industries, sustainable agriculture methods, and green technology that improve the planet’s well-being while providing people with jobs. This approach also emphasises the necessity of respecting Indigenous knowledge and traditions, which have historically been more aligned with ecological balance.
Furthermore, the human economy promotes increased participation and democracy in economic decision-making. Rather than allowing a small group of elites to dictate economic policies, it advocates for the involvement of a broader range of voices in policymaking, notably those of workers, women, and historically marginalised groups. This approach is based on the concept that a more democratic economy will result in more equitable outcomes and that people are more likely to accept economic policies if they believe they have a say in their development. In practice, this could take the form of worker-owned cooperatives, community-led development initiatives, or participatory budgeting methods that give citizens a direct say in how public funds are spent. The Human Economy also opposes the commodification of critical commodities and services that should be considered public goods, such as healthcare, education, and housing. It opposes the idea that these fundamental human necessities should be subject to market forces and profit motives, saying that they should be universally available and publicly sponsored. According to this viewpoint, healthcare should not be a privilege reserved for the wealthy but rather a right guaranteed to all. We should view education as a public good that benefits society as a whole, not as a commodity that individuals must pay for. Housing, too, should be recognised as a fundamental human right rather than a speculative asset for speculators. An economy for the 99% would entail a fundamental rethinking of work and labour. Many modern economic systems devalue work, leaving workers with low earnings, uncertain working conditions, and no job security. The Human Economy advocates for a revaluation of labor, especially for traditionally undervalued or unpaid jobs like childcare, household work, and community service. All workers must perform their work with dignity and receive adequate compensation for their efforts. According to this vision, economic success is judged not just by earnings and production but also by workers' well-being and the quality of life they may accomplish.
In terms of international relations, a human economy aims to shift away from exploitative global economic practices that benefit wealthier countries at the expense of poorer ones. It advocates for fair trade, debt forgiveness, and global solidarity in the battle against poverty and injustice. The Human Economy recognises the frequent marginalisation of the global South in the current economic order and advocates for a more equitable distribution of global wealth and resources. It also advocates for cross-border worker rights protection, ensuring that multinational firms do not abuse workers in developing nations in order to increase profits. This model is more than just a theoretical exercise; it has practical implications for policymaking at the local, national, and international levels. It necessitates a shift in the metrics we use to assess economic performance, moving away from gross domestic product (GDP) and towards measures that consider well-being, equity, and environmental sustainability. Countries that adopt a human economy strategy must develop policies that prioritise long-term societal well-being over short-term economic benefits. This could include investing in public infrastructure, encouraging renewable energy, ensuring universal access to social services, and enacting policies that encourage inclusive economic growth. At its core, the human economy is about putting people at the centre of economic activity. It is a plea to return to the idea that the economy serves society rather than the other way around. It rejects the notion that economic development and corporate profits are the ultimate aims of economic policy, instead arguing that the economy should be used to promote human dignity, equity, and sustainability. By focussing on the needs and well-being of the 99%, the human economy provides a path to a more just and equitable future in which everyone has the opportunity to succeed.
Policies Reflecting Human Economy Principles
In response to these disparities, several governments have begun to establish policies that adhere to the ideals of the Human Economy. One of the most famous examples is the implementation of Universal Basic Income (UBI) in several nations. UBI is a policy that provides all citizens with a regular, unconditional payout from the government, regardless of their employment status. This program seeks to provide a safety net for all people, ensuring that they have access to basic essentials such as food, shelter, and healthcare. Between 2017 and 2018, Finland hosted one of the early large-scale UBI tests. In this trial, 2,000 unemployed people received a monthly stipend of €560 with no conditions attached. The findings revealed that recipients of UBI experienced less stress and worry, and they felt more empowered to pursue schooling or entrepreneurial initiatives without fear of financial ruin. While the experiment was not expanded, it provided useful insights into how a Human Economy-based policy could increase citizens' well-being. Another example is New Zealand’s Living Standards Framework (LSF), which was adopted in 2019 by the Treasury. The LSF assesses economic performance using a larger set of variables, such as well-being, environmental sustainability, and social equality, rather than simply GDP growth. New Zealand’s strategy, which prioritises well-being over economic growth, is consistent with the Human Economy’s emphasis on human flourishing and ecological balance. Prime Minister Jacinda Ardern’s administration has announced a "Well-being Budget," which would distribute cash to sectors that promote citizens' quality of life, such as mental health services, child poverty reduction, and domestic violence prevention. Similarly, in 2020, Scotland launched its "National Performance Framework," a mechanism for measuring economic success that goes beyond traditional measurements like GDP. This paradigm prioritises well-being, equality, and sustainability, emphasising the idea that economic progress should be driven by people’s needs rather than the other way around. These policy efforts demonstrate how governments might move their attention away from narrow economic aims and towards broader measures of societal well-being, in line with the Human Economy’s vision of an economy that benefits the 99%.
Fair Trade Movements
The Fair Trade movement is another practical application of Human Economy concepts. It seeks to establish a more fair global trading system that supports small-scale producers and workers in developing countries. The Fair Trade movement aims to solve exploitation and injustice in the global trade system by ensuring that producers are paid a fair price for their goods. Fair Trade certification offers farmers and workers higher income, better working conditions, and a social bonus that can be used to fund community development projects. The movement also promotes environmental sustainability by encouraging farmers to use eco-friendly farming methods. Fair Trade coffee cooperatives in Latin America and Africa, for example, have assisted small-scale farmers in obtaining higher crop prices while supporting sustainable agriculture. These projects are consistent with the Human Economy’s emphasis on fairness, sustainability, and ensuring that economic advantages are more evenly distributed across society.
Cooperatives that are owned by workers
Worker-owned cooperatives are another important component of the Human Economy. These cooperatives are based on the notion of democratic participation, with workers having a direct say in how the business is operated and earnings divided. This paradigm contrasts sharply with typical company structures, which concentrate decision-making authority in the hands of shareholders and executives. One of the most well-known instances of a worker-owned cooperative is the Mondragon Corporation in Spain. Founded in 1956, Mondragon has grown to become one of the world’s largest cooperatives, employing over 80,000 people in a variety of businesses. Mondragon’s performance proves that worker-owned firms may be both profitable and socially responsible. Mondragon embraces the Human Economy’s goals of participation, justice, and shared prosperity by providing employees more influence over their workplace and guaranteeing that revenues are divided more equitably. The expansion of worker-owned cooperatives in the United States has also accelerated, particularly in places such as Cleveland and New York. These cooperatives are frequently centred in industries such as healthcare, food service, and retail, offering well-paying jobs to workers who would otherwise be trapped in low-wage, exploitative positions. These cooperatives contribute to the development of more robust local economies and the reduction of economic inequality by providing workers with a share in the business' success.
Green New Deal
Environmental sustainability is an essential component of the Human Economy, and the Green New Deal is one of the most ambitious initiatives to reconcile economic and environmental objectives. The Green New Deal, proposed by progressive lawmakers in the United States, seeks to address both the climate catastrophe and economic inequality by transitioning to a clean energy economy, creating millions of well-paying jobs in the process. The Green New Deal proposes significant public investment in renewable energy, sustainable infrastructure, and environmental conservation. It aims to achieve net-zero carbon emissions by 2050 while also tackling social justice issues like income inequality, racial inequities, and access to healthcare and education. The Green New Deal exemplifies the Human Economy’s comprehensive approach to economic and social well-being by addressing both climate change and inequality. In addition to the Green New Deal, several European countries have developed green policies that are consistent with the ideas of the Human Economy. Denmark, for example, has pledged to reduce carbon emissions by 70% by 2030 and has made significant investments in renewable energy sources such as wind power. Germany’s Energiewende (Energy Transition) strategy aims to shift the country away from fossil fuels and nuclear energy and towards renewable energy sources, while simultaneously providing a fair transition for workers in affected businesses. These policies show that it is feasible to build an economy that prioritises environmental sustainability while still providing economic possibilities to all citizens. The Green New Deal and other measures that combine social justice and environmental protection provide a model for a more compassionate and fair economic structure.
Social Safety Nets and Universal Healthcare
The extension of social safety nets and the adoption of universal healthcare systems are also important aspects of the Human Economy. Countries such as Norway, Sweden, and Canada have long been pioneers in establishing extensive social welfare programmes that ensure all residents have access to basic necessities such as healthcare, education, and shelter. These programs, funded by progressive taxation, are intended to alleviate income disparity and foster social cohesion. For example, Norway’s welfare state offers considerable benefits to families, such as paid parental leave, subsidised daycare, and free education. The country’s universal healthcare system guarantees that all residents, regardless of income, have access to high-quality medical care. Norway has achieved a high standard of living while retaining one of the lowest levels of income inequality in the world by putting its residents' well-being first. While the Affordable Care Act (ACA) in the United States does not provide universal healthcare, it does represent a substantial step towards extending healthcare access. The Affordable Care Act (ACA), sometimes known as Obamacare, has helped millions of Americans obtain access to health insurance by expanding Medicaid and creating health insurance exchanges with subsidies for low- and middle-income individuals. While the ACA has experienced political opposition, it exemplifies the Human Economy’s emphasis on making critical services available to all, not just the wealthy.
A Vision for the Future
When picturing a future based on Human Economy principles, the ultimate goal is to build an economy that benefits everyone, not just the wealthy elite. By emphasising justice, sustainability, and democratic engagement, the Human Economy provides a path to a more just and equitable world. Policies such as Universal Basic Income, the Well-being Budget, Fair Trade, worker-owned cooperatives, and the Green New Deal are real-world examples of how these objectives might be implemented. The Human Economy recognises that humans are more than simply consumers or labourers who may be exploited for profit; they are the basic root of economic activity. It advocates for an economy that meets the demands of the 99 percent, ensuring that everyone has the opportunity to succeed, participate in decision-making, and live in a society that values human dignity and environmental sustainability.
The Human Economy is more than just an alternative economic model; it is a call to rebuild our planet for the benefit of all people.
— Sajid Mollah
