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Economy of Mutuality: Merging Financial and Social Sustainability

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  • Kevin Jackson

Abstract

The article posits the concept of economy of mutuality as an intellectual mediation space for shifts in emphasis between market and social structures within economic theory and practice. Economy of mutuality, it is contended, provides an alternative frame of reference to the dichotomy of market economy and social economy, for inquiry about what business is for and what values it presupposes and creates. The article centers around the objective of gaining a broadened understanding of business so as to include not just market economy, but social enterprise and social economy. In pursuit of this objective, a range of various archetypes of business enterprise are considered in light of higher ends of economic life. The highest telos of business encompassing all such archetypes, it is argued, is founded on reciprocity and integral human development. The article concludes that, compared to market economy per se, economy of mutuality provides a better conceptual framework for business in undertaking the challenges of sustainability.

Suggested Citation

  • Kevin Jackson, 2016. "Economy of Mutuality: Merging Financial and Social Sustainability," ULB Institutional Repository 2013/231205, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:ulb:ulbeco:2013/231205
    Note: SCOPUS: ar.j
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    References listed on IDEAS

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    Cited by:

    1. Francesco Sarracino & Luca Fumarco, 2020. "Assessing the Non-financial Outcomes of Social Enterprises in Luxembourg," Journal of Business Ethics, Springer, vol. 165(3), pages 425-451, September.
    2. Francisco J. Rincón Roldán & Álvaro López Cabrales, 2019. "Ethical values in Social Economy, Human Resource Management Practices and Sustainability," Working Papers 19.05, Universidad Pablo de Olavide, Department of Business Organization and Marketing (former Department of Business Administration).
    3. Jiguang Wang & Bing Ran, 2019. "Balancing Paradoxical Missions: How Does Microfinance Rebuild a Sustainable Path in Poverty Alleviation?," SAGE Open, , vol. 9(2), pages 21582440198, June.

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