ümberwirtschaft

The term ümberwirtschaft, originating from German, translates loosely to "re-economy" or "economic turnaround." It signifies a fundamental shift in economic systems and priorities, moving away from conventional capitalist models towards more sustainable, equitable, and socially responsible practices. This concept often encompasses a critique of unchecked economic growth, consumerism, and environmental degradation, advocating for a transition to a circular economy, localized production, and a revaluation of non-monetary forms of wealth and well-being.

Ümberwirtschaft is not a single prescriptive model but rather a broad framework of ideas and proposals aimed at addressing the perceived failures and negative externalities of current economic paradigms. Proponents often emphasize degrowth, resource conservation, social justice, and a focus on meeting basic needs rather than maximizing profit. The idea is to redesign economic activities and societal structures to operate within ecological limits and to foster greater resilience and collective flourishing. This can involve implementing policies that promote renewable energy, reduce waste, support local businesses, and redistribute wealth more equitably. The ultimate goal is to create an economy that serves human and planetary well-being rather than being an end in itself.