The Inclusive Economy: Criteria, Principles and Ubuntu

Front Cover
UJ Press, Jan 1, 2022 - Business & Economics - 506 pages
There is one serious missing link at the center of today’s capitalism. It is a disequilibrium between increased economic interconnectedness and increased isolation/exclusion. This unique challenge in the 21st century calls for a unique solution: Ubuntu. Africa might be the last place where experts would look for an economic solution, but it ironically holds the secret to restoring the right equilibrium in the economy. Ubuntu’s ability to reconnect the marginalised with the mainstream by putting emphasis on our humanness, connectedness, collective growth through expansion and improved efficiency creates new capacity for the economy to rebalance itself towards genuine and sustainable progress. Ubuntu encapsulates that which is the opposite of economic exclusion (i.e. inequality, poverty, unsustainable growth, limited profits, etc.), namely economic inclusion. However, only a small window of opportunity exists – in and after the COVID-19 pandemic – to implement Ubuntu as a fundamental economic principle in order for it to be an effective remedy. The global economy and most local economies have entered the phase of rebuilding with a serious drawback: after the previous global financial crisis, both the economy and government’s capacity to recover are severely limited as unemployment levels, debt levels and natural resource depletion levels keep soaring, resulting in dangerous levels of economic exclusion and social instability. To this and more, the inclusive economy presents tangible solutions.
 

Contents

Introduction
1
Chapter 1
5
Chapter 2
25
Income disparities from 1980 to 2019 global averages Source Own work and data from the World Inequality Database WID 2021
29
Total global debt as a percentage of world GDP weighted average Sources Own work data from the International Monetary Fund IMF and the Bank ...
33
Components of inclusive growth Source Own design
46
Change brought about by inclusive business models Source De la Mata 2012
55
Inclusiveness Index for 1996 and 2006 Source Data from Ramos et al 2013
65
Relations between economic change and sociological change Sources PrietoSandoval et al 2018 Chertow Ehrenfeld 2012
177
The smart circular economy framework Source Kristoffersen et al 2020
179
Chapter 5
189
Different forms of collaboration within the sharing economy Source CFI Team 2021
196
Cumulative funding of sharing economy startups since 2010 billions USD Sources Wallenstein Shelat 2017 Foramitti et al 2020
197
The first honeycomb model Source Owyang 2014
201
The second honeycomb model Source Owyang 2015
204
The third honeycomb model Source Owyang 2016
205

Regional comparison of shared prosperity Annualised pc growth 20112018 Source Data from the GDSP
69
Shifts in social mobility curve showing inclusive growth Source Anand Mishra Peiries 2013a
71
Chapter 3
77
World average GDP per capita vs GPI per capita 19452020 Sources Kubiszewski et al 2013 World Bank OECD 2021 and GNHUSA 2021
87
GPI components used for assessment Source Berik 2020
88
A more sustainable economy based on minimising throughput Source Talberth et al 2006
90
Items used for the calculation of Singapores GPI
91
Components of the HDI Source UNDP 2021
93
Elements of the IHDI Source UNDP 2021
94
The components of the Gross National Happiness Index
97
Size of the economy vs happiness average life evaluations
99
Average wellbeing for the UK 20112020 Sources Data from Tinkler 2015 Pettinger 2017 ONS 2021
103
LQI Country ranking comparison 2021 Sources Data from WorldData 2021 Numbeo 2021
105
BLI attainment of wellbeing in 2019 Source Data from BLI 2021
106
Strengths and shortcomings of some of the key beyondGDP indicators and indices
108
A proposed system of indicators aimed toward improving human wellbeing Sources Dietz ONeil 2013 Abdallah et al 2010
116
Components of the Genuine Progress Indicator
119
Components of GPI separated into built human social and natural capitals Source Kubiszewski 2018
125
Various mathematical representations of the GPI Sources Talberth Weisdorf 2017 Bagstad Shammin 2012 Lawn 2008
126
Chapter 4
129
Social welfare maximisation Source Feldman 2008
133
Interactions between the economy and the environment Source Hanley et al 1997
136
Balance within a sustainable economy A foundation for inclusive development Source Turner 1988
137
Contrast between the circular economy and the linear economy Source UNIDO 2018
142
An environmentally safe and socially just space for humanity to thrive Source Raworth 2012
144
The circular economy Regenerative by design Source Raworth 2017
146
Feedback loop used in regenerative design Source Lyle 1996
151
Circular economic system diagram Consumption production and wellbeing Sources Ellen MacArthur Foundation 2019 McDonough Braungart 2002
156
Transitioning from the traditional business model to the circular business model Source Geissdoerfer et al 2018
157
Circular economy indicators included in the EU28 monitoring framework
160
Framework and throughput indicators for an economywide circular economy assessment Source Mayer et al 2018
163
Input and outputside circular economy indicators Source Mayer et al 2018
164
Classification of the three LCA measurement scopes from circular economy indicators Source Moraga et al 2019
166
Measurement scope different stages in LCA Source Vogtländer 2010
167
Levels in the circular economy framework Source Elia et al 2017
168
Taxonomy of indexbased methods Source Elia et al 2017
171
Main current circular economy targets by areas of application Source Morseletto 2020
173
Interactions of the energy materials and biodiversity nexus Source Friant et al 2020
176
Company value of Airbnb worldwide from 20162021 billions USD Source Data from Statista 2022
207
A framework for the sharing economy combined with the access economy Source Altrock Suh 2017
211
Literature categorisation of different inclusive business models Source Laukkanen Tura 2020
217
Integration of lowincome communities in a business value chain Source Golja Požega 2012
220
Cocreation through collaboration initiated by inclusive businesses Source Prahalad Hart 2002
222
Factors to consider in an inclusive business model
224
Causal chain of analysis for inclusive business evaluation Source Wach 2012
229
Frameworks for determining the inclusivity of inclusive business
231
Chapter 6
253
Primary allocation mechanisms in the three main economic spheres Source Pouw McGregor 2014
258
Outlining the inclusive economy matrix
260
Framework for policy action on inclusive growth Source OECD 2018b
271
Indicators of inclusive growth for general application
277
Tracking the progress of inclusive growth in OECD countries Sources OECD 2018b Heshmati et al 2019 De Mello Dutz 2012
278
Convergence nexus Gross National Product GNP vs wellbeing Source Inglehart 1997
285
Tax policy reform opportunities and design principles for an inclusive economy Source Brys et al 2016
293
An integrated circular economy through innovation Source Hysa et al 2020
307
Smart circular economy matrix to assist policymaking
309
The four pillars and traits of the collaborative economy as policy focusareas
313
Types of transactions facilitated by collaborative economy participants in Europe Source Data from Stokes et al 2014
315
Goals of participants in the European collaborative economy Source Data from Stokes et al 2014
316
Migration within the collaborative economy through policy guidance
317
Framework for assessing policy issues related to collaborative consumption
318
Inclusive development macroindicators to guide institutional reform and aims Source Hutorov et al 2020
326
The policy process cycle Source Exton Shinwell 2018
328
Policy functions interacting until optimality and consistency are reached Source Sutton Barto 2005
329
Inclusive economic policy framework Creating synergies for better solutions
332
Chapter 7
341
Key composites of an inclusive economy
344
Relational balance within an inclusive economy Source Claridge et al 2001
354
Structural change towards an inclusive economy Source Ciarli et al 2018
357
Stakeholder map of inclusive innovation Source Heeks et al 2013
371
Process map for inclusive innovation Source Heeks et al 2013
372
Range of business ecosystem stakeholders and interactions Source Mayer Roche 2021
375
Inclusive economic framework The right balance for the right transition Source Own contribution
390
References
395
Endnotes
451
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