New economic models

Towards a future-proof economy, the Amsterdam Economic Board is exploring new economic models to redefine the conventional economic mindset focused on quantitative growth.

New economic models offer different perspectives on considering the economy as part of a society. Offering tools to make that economy more equitable and sustainable. Looking for a new economic balance, where ‘enough’ is good enough and ‘well-being’ takes precedence over a growing gross domestic product. Some examples include: Doughnut Economics, Post Growth and the Purpose Economy.

What are new economic models?

New economic models, founded on post-growth principles, are characterised by:

  • Quality of life. Not only income, but also health, education and cultural access are a factor
  • Ecological sustainability. Respecting the limits of our planet and natural resources
  • Social justice. Aimed at reducing inequality and promoting a fair distribution of wealth

The Amsterdam Economic Board is exploring whether (and how) we can apply these approaches in practical initiatives.

What we are working on

The Amsterdam Economic Board is working with partners to explore new economic models in the tracks below:

1. Living Lab Project ‘New Economic Thinking, New Economic Acting’

In this living lab project, users and local residents, policy makers and innovative economy experts at the Marineterrein work together on socioeconomic and ecological experiments. We’re exploring what it’d mean when we’d shift the focus from quantitative to qualitative growth.

With our partner AMS Institute, we monitor expected and unexpected results. This is how we and the region will learn what it takes for a local economy to thrive if it acts within planetary boundaries. Now we are working on four socioeconomic experiments:

  • Neighbourhood cooperative

    Establishing a neighbourhood cooperative, in cooperation with Kattenburg and Wittenburg, two districts bordering on the Marineterrein. A neighbourhood cooperative creates local jobs by hiring locals. This keeps work in the neighbourhood, stimulates the local economy and increases social cohesion.

  • Steward owned Marineterrein

    For now, no one lives at the Marineterrein. It does, however, house 52 organisations. Together with these organisations, we work to create a fair and sustainable long-term, mission-driven business model that contributes to a local mini-economy that trades within planetary boundaries.

  • True pricing

    Together with entrepreneurs at the Marineterrein, we are experimenting with the impact ‘True Pricing‘ has when it comes to making choices for what and how we consume, by including hidden environmental, animal and human costs in prices for consumer goods at the Marineterrein.

  • Sharing space

    Making better use of the (office) space at the Marineterrein, by offering the space to local residents outside working hours for neighbourhood recreation and hosting economically homeless people. The more efficient and effective use of space should directly contribute to the liveability in and around the Marineterrein and increase socioeconomic equality.

2. Learning journey ‘Thriving without growing’ (completed)

Together with entrepreneurs from the fashion and textile industry, we explored how to shift the focus from quantitative to qualitative growth, while respecting planetary boundaries, our environment and residents.

Want to know more about this learning journey? In the report ‘Bloeien zonder te groeien – Postgroei in textiel: van theorie naar praktijk’ (Dutch pdf) you’ll read all about how we are working with fashion and textile entrepreneurs, Amsterdam Transition Institute, de Groene Afslag and Hogeschool van Amsterdam to try to flesh out this new economic paradigm. The report contains advice for the national government to help shape the fashion and textile industry of tomorrow.

Get involved in the living lab

Is your curiosity triggered and would you like to know more about our experiments with new economic models? Do you see ways your organisation could contribute to this exploration?

Erik Lückers | Amsterdam Economic Board

Partners

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