What future for the social economy?

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4.8 • 13 Ratings

🗓️ 11 December 2020

⏱️ 6 minutes

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Summary

In the first two decades of the 21st century, with new risks and opportunities arising owing to the twin digital and green transformations there is an emerging debate, rethinking economic growth theories with more focus on inclusion and combatting inequality, and exploring the relevance of traditional welfare state models. This debate has intensified in the wake of the 2008 crisis, and now also as a result of the coronavirus pandemic and crisis. The social economy can play a central role in this context.
https://www.europarl.europa.eu/thinktank/en/document.html?reference=EPRS_BRI(2020)659336
https://youtu.be/yOSmw0F_DbE

Source: © European Union - EP

Transcript

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0:00.0	Welcome to the European Parliamentary Research Service podcast on what future for the social economy.
0:08.0	The COVID-19 pandemic, as the financial crisis did back in 2008, has reminded us once more of the importance of having a vibrant social economy,
0:20.0	which puts people and the planet before profits.
0:22.6	The EU supports it in different ways,
0:24.6	but how can it better equip it to play a driving role in the light of the current challenges?
0:29.6	Stay with us.
0:33.6	A part of Europe's economy is not intended to bring financial gains in the first place, but rather to address societal and other challenges.
0:41.3	It's known as the social economy and it comprises a wide array of enterprises and networks, adopting multiple legal forms, including cooperatives, mutual societies, non-profit associations, foundations and social enterprises.
0:55.8	In the EU, there are 2.8 million social economy operators providing a wide range of products
1:01.7	and services in multiple sectors of activity, from agriculture and banking to education,
1:07.0	healthcare or housing. Together, they employ more than 13 million people and generate close to
1:12.9	8% of the union's gross domestic product. Their existence is therefore strongly linked not only to
1:18.6	the economy at large, but also to a well-functioning welfare state and the growing circular economy.
1:24.5	And the social economy is also a driver of social innovation, solidarity and
1:29.4	inclusion. So how does the EU support social economy actors? Well, over the years, the EU has
1:35.0	implemented several laws and strategies to create a level playing field in which social economy
1:40.2	operators can compete effectively and fairly. From the Single Market Act's to the Social
1:45.5	Business Initiative and the new 2020 SME strategy, among others.
1:50.2	And EU work and the social economy is organised around five main areas. Stay with us.
1:57.6	One of them is improving access to finance. In recent years, a wide range of new funding mechanisms from both the public and private sectors have emerged.
2:07.1	And the EU has a crucial role to play in making sure that innovative social solutions get the funding they need.
2:13.6	And EU funding programmes have given priority to social economy actors in many different ways,
	...

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