Triggering a Change of The Economic Paradigm

 Stephan Rothlin

 

Changing an economic paradigm seems an impossible Herculean task. The focus of the dominant economic model on profit maximization and cost cutting, while favouring a one-sided economic development without any serious regard for the environment, is so entrenched that any move to change it seems so far doomed to fail. In order to adequately address the complex issues related to changing any economic models, the 2020 Symposium of the Macau Ricci Institute at the University of Saint Joseph proceeded as a spiritual conversation: to enhance the ability to listen to each other’s different perspectives each participant was required to pick three major points in the papers of the other participants.

In the feedback among the participants a major common point emerged: the importance of education and a proper institutional framework in order to bring about the desired change of paradigm. Related to three major dimensions—namely, the humanistic, the economic and the legal track—I would briefly delineate a few key important points that served as a reference to the “Macau Manifesto,” which emerged from the Symposium’s deliberations. Perhaps you should familiarize yourself first with the different points of view of the participants before savouring the “Macau Manifesto”.

 

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