What is the new economy?

An amalgamation of several movements come together under the new economy umbrella, with a common desire to transform the model of globalisation and find more collaborative strategies in business as well as government.

Several theorists differ in approach, but the general principles remain the same.

The Economy for the Common Good, led by Christian Felber, proposes a model of measuring the success or the failure of a business based on indicators which assess human qualities and levels of cooperation, instead of profits.

Meanwhile, green economist Gunter Pauli believes that it is possible to emulate nature in business processes, with a focus above all on primary education.

The social venture movement led by Peter Kolbrook brings together thousands of entrepreneurs and directs reinvestment towards social initiatives which help to eradicate poverty at all levels.

There are other branches too such as the ethical bank which invests its profits in development projects.

As many as 15 different movements are getting their voice heard at the ongoing New Economy & Social Innovation (NESI) Forum in Malaga, which started on Wednesday, organised with the support of the city hall and provincial government.