Workshop in the European Parliament. Brussels. 27.04.2009, 16.30-18.30. hosted by MEP Richard Howitt, EP Reporter on Promoting a European Framework for Corporate Social Responsibility. The economic crisis demonstrates that the the global economy has been on a wrong track. How could we get into such a difficult situation after so many years of apparently (?) positive development? The global economy was not only de-coupled from care for the environment. It did not only initiate a “race to the bottom” regarding social standards, there was also a large gap between the “real” economy and the financial system. In the end, the financial system was not only disintegrated from environmental and social aspects, but it was even disintegrated from goods and services production, it lost external targets related to the society. Now, we have to get back to the basics. The common definition of the economy is “Activities related to the production and distribution of goods and services”. The economy therefore does not (or should not) follow a purpose of its own, but has a supporting role for the human society.

Source: Club of Rome