The experience of the three crises ( Credit, Covid and Climate) of the 21st century, suggests that the common values and beliefs that underpin a successful economy are:
– dynamism to help create solutions and channel human creativity;
– resilience to make it easier to bounce back from shocks while protecting the most vulnerable in society;
– sustainability with long-term perspectives that align incentives across generations; – fairness, particularly in markets to sustain their legitimacy;
– responsibility so that individuals feel accountable for their actions;
– solidarity whereby citizens recognise their obligations to each other and share a sense of community and society;
– humility to recognise the limits of our knowledge, understanding and power so that we act as custodians seeking to improve the common good.