The thinking that got us into this mess will not get us out of it. If we are to create a new economic order it has to move beyond civil society, governments, and markets. A quid pro quo between private firms and public authorities will only reinforce the status quo.
“A new economic order requires an explicit quid pro quo between private firms and public authorities. To prosper, firms need a reliable and skilled workforce, good infrastructure, an ecosystem of suppliers and collaborators, easy access to technology, and a sound regime of contracts and property rights. Most of these are provided through public and collective action, which is the government’s side of the bargain.
Governments, in turn, need firms to internalize the various externalities their labor, investment, and innovation decisions produce for their communities and societies. And firms must live up to their side of the bargain – not as a matter of corporate social responsibility, but as part of an explicit regulatory and governance framework.” —Project Syndicate 2020-06-11