Sustainable Development and Social Economy; A New Paradigm or Mere Utopia?

Anna Zbiegień-Turzańska
Uniwersytet Warszawski Krakowskie Przedmieście 26/28 00-927 Warszawa, Polska.

Abstract

The question whether economic development can be sustainable is nowadays of fundamental nature. Prior assumptions made by economy classics, such as Adam Smith, regarding the “invisible hand” – being the key to economic growth and harmonic development of the market and the whole society – seem nowadays insufficient. This is due to resource limitations, climate changes, global warming and threats to biodiversity. Growth can no longer be viewed as unlimited. More and more popular in the public debate (agenda), also within the European Union (the European Commission), becomes in recent years the concept of sustainable development, social economy and social (inclusive) entrepreneurship. Social economy organisations are entities with different legal forms (social enterprises, cooperatives, mutuals, associations, foundations) which put social and environmental purposes first (“people and planet first”), reinvesting most of their profit back to the organisation or a social cause and embracing participatory (inclusive) governance. The debate on sustainable development involves and affects also traditional forms of for-profit business; a benefit corporation or the concept of sustainable corporate governance being the perfect examples of this phenomenon.

Presentation