At the national level, the definition of the Common Good Product should be determined by the sovereign citizens, perhaps in local assemblies.The idea is to identify the twenty most relevant aspects of quality of life and well-being and convert them to a measurable and comparable indicator.It may not be carried out against the common good.” In the preamble to the is redefining success according to a company’s contribution to the common good.
The Organization for Economic Co-operation and Development’s ( and can help define the most relevant quality of life indicators for a future Common Good Product.
If the Common Good Product of a country rises, its citizens can be sure that one or more of the following are true: unemployment and poverty rates have dropped, the incarceration rate is going down, income inequality has improved, and/or sufficient steps have been taken to address climate change.
The is useless in providing information about these important issues.
At the business level, the Common Good Balance Sheet (see next page) measures the extent to which a company abides by key constitutional values.
The fundamental failure of the present system is that economic success is measured strictly according to monetary indicators, such as the Gross Domestic Product for countries, or financial profit for businesses.
Banking and finance will also need to reorient their priorities.
In an Economy for the Common Good, improving the well-being of everyone and of nature is the bottom line. Many western constitutions define the goal of the economy in this way.
The constitution of Bavaria, Germany, for example, declares: “Economic activity in its entirety serves the common good.” In the Italian constitution it says, “Private economic enterprise is free.
These include human dignity, solidarity, justice, sustainability, and democracy.
This new balance sheet measures some twenty ethical indicators; for example: So far, over 400 businesses have conducted a Common Good Balance Sheet.