Economy of Sufficiency. Sustainable Ethical Market Economy

The forthcoming ethical market economy will be the economy of sufficiency. It will provide “enough for everyone’s needs, but not for the greed of everyone” (Mahatma Gandhi). It will be sustainable, encouraging for long-term solutions and punishing for short-term speculations. Both freedom and justice will be provided. The balance of free markets will be achieved through fair solution of the problems of climate, income, taxes, gender equality and procedures. A new vision of what is a human being will appear: people do not only seek to get maximum wealth and benefits, stepping over other people. They also look for community, mutual aid and intelligence in life. Such anthropology will counterbalance competition and community. It will change economic and political theories. It will result in new understanding of the responsibility. Responsibility will be considered as a report to all involved parties, including future generations, for believers of monotheistic religions — as a response before God — the source of life, and for the followers of dharmic teachings — as an aspiration for harmony with dharma, the universal order and for a proper way of life. Christian, Muslim, Jewish, Buddhist, Hindu, Jain, Sikh and other values and spirituality, including non-religious worldview, will represent a joint ethical foundation for such economy of sufficiency. It will limit the greed of separate people and human institutions, leading to a new economic paradigm of equitable and sustainable markets.