DavosCallForNewSocialCovenant - 0 views
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Frederick Smith on 26 Jan 13>JimWallis: 'We urgently need a new social covenant between citizens, businesses, and government. Contracts have been broken, but a covenant adds a moral dimension to the solution that is now essential. By definition, this will require the engagement and collaboration of all the "stakeholders" - governments, businesses, civil society groups, people of faith, and especially young people. >Social covenants should all include shared principles and features - a value basis for new agreements, an emphasis on jobs that offer fair rewards for hard work and real contributions to society, security for financial assets and savings, a serious commitment to reduce inequality between the top and the bottom of society, stewardship of the environment, an awareness of future generations' needs, a stable and accountable financial sector, and the strengthening of both opportunity and social mobility. >Such a covenant promotes human flourishing, happiness, and well-being as social goals, and it elevates the movement from a shareholder model to a stakeholder model of corporate governance. Such new social covenants are already being discussed in a variety of settings and countries. The discussion itself will help produce the conversation leading to the results that we need. >A moral conversation about a social covenant could ask what a "moral economy" should look like and for whom it should exist. How can we do things differently, more responsibly, more equitably, and yes, more democratically? >Lack of trust is bad for politics, bad for business, and bad for overall public morale. It undermines people's sense of participation in society as well as their feelings of social responsibility, and makes them feel isolated and alone-more worried about survival than interested in solidarity. Because the "contract" was broken, a sense of "covenant" is now needed, fused with a sense of moral values and commitments. And the process of formulating new social covenants could be an important pa