Economic models face calls for transition toward social profitability

Current economic models are facing a crisis of purpose, shifting from a focus on human welfare to the mere accumulation of material goods and growth. This transition has led to a sense of uncertainty and the perceived failure of traditional economic science, which has prioritized wealth acquisition over ethical considerations and social satisfaction.

There is a growing debate regarding the necessity of rethinking economic models, particularly in the context of reindustrialization. Critics argue that true economic transition cannot occur if it relies on the same speculative logic used by current systems. The current era is described by some economists, such as Yanis Varoufakis, as a form of 'technofeudalism,' where value is extracted from platforms, data, land, and housing rather than through the production of goods and services.

In response, the social and solidarity economy (SSE) is proposed as a practical alternative. Unlike traditional capitalism, the SSE focuses on 'social profitability'—prioritizing employment, care, and redistribution—while maintaining viability through principled operations rather than rapid enrichment.