Economic theory and the way of doing business are like the two sides of a coin. If you want to do business differently than before, you need a different economic theory than before.
Our most important concern - and the sole goal of the Friede-Gard-Foundation - is to align research and teaching in economics to a real sustainability of economy and society and in particular to respect the planetary boundaries of our „spaceship earth“ (an expression coined by Kenneth Boulding) instead of promoting everlasting and infinite growth.
In order to advance our cause, we award the Friede-Gard-Prize for Sustainable Economics every year.
The Friede-Gard-Prize is a recognition for outstanding scientific achievements in the further development of economics into a sustainable economy, that is to say an economic theory for a sustainable economy and society. Such an economy must provide serious answers to the crisis-ridden threats, especially from climate change and global warming. The very highest commandment is therefore the preservation of our livelihood - in contrast to the ‘business as usual' of the ruling doctrine, which still believes in eternal and unlimited economic growth on a finite planet.
Research and teaching in economics has so far hardly been focused on sustainable business, but favors economic growth. This is considered the universal cure for all kinds of problems. The downside of this growth - particularly in the last fifty years - is global environmental destruction of unprecedented proportions and climate change threatening the existence of our civilization. The fruits of this growth have also been distributed very unevenly due to the prevailing political conditions, so that the now extreme income and wealth inequality threatens social peace worldwide.
We therefore need not only as soon as possible an economy and society geared towards ecological, economic and social sustainability, but also a corresponding economic theory.
Because economic theory and the way of doing business are like the two sides of a coin: the economy of a country and the world cannot be designed purposefully without a reality-related and coherent economics, just as a company cannot be managed successfully without heeding the findings of business administration.
The Friede-Gard-Stiftung is therefore committed to such an economic theory that can represent, model and shape an economy and society geared towards ecological, economic and social sustainability.
The Friede-Gard-Prize is intended to draw attention to researchers and their work, which have made a significant contribution to this, and to encourage others to participate..
Researchers working in this direction do exist, but they are hopelessly outnumbered by the prevailing doctrine of the neoclassical mainstream. Therefore, they do not (yet) have available an equally detailed elaborated economics theory. In addition, they are perceived only occasionally and only occasionally on individual issues, but not as part of a possible better alternative overall.
The size ratio to the neoclassical mainstream is that of David to Goliath and is shown, for example, in the number of university professors, the number of doctoral students, the number of journals/ specialist publications, but in particular in the sum of the research funds, In addition, of course, also with the invitation to discussion rounds, participation in expert committees and the reception in the public. Therefore, the dominant teaching has an almost monopoly-like position in the scientific world and in public perception and effectiveness. What it proclaims is considered the truth, however abstruse it may be.
At the same time, the lack of meaningful advice from the mainstream regarding the threats of climate change and global warming in particular is obvious, as it continues to propagate the same recipes - namely economic growth - that which in recent decades have led the situation not to the promised better, but to the much worse.
Alternatives are therefore urgently needed and must be developed and detailed, as well as publicly presented and made generally known. Resources must be diverted accordingly.
We welcome any support that helps us to better pursue and realize the foundation’s purpose, whether through financial donations (donations or endowments) or cooperation in an appropriate form (for example, in public relations or help with events).
The Friede-Gard-Stiftung is recognized by the tax office as a non-profit and entitled to issue donation certificates with which the donations or endowments can be asserted against income tax in Germany.
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