Dr. Elena Cristina Dorneanu, PhD, of “Alexandru Ioan Cuza” University of Iasi, has authored an insightful article delving into the intricate landscape of social economy in Romania. Her work provides a comprehensive examination of various aspects, including legislation, practical examples, and policy frameworks.

The social economy is a social philosophy translated into economic pragmatism. We say this because social entrepreneurs are those “pragmatic dreamers” who have the talent, ability and vision to solve social problems, to develop the community.

Social economy – philosophy or reality, article written by Elena Cristina Dorneanu, PhD

Why we need social economy

The social economy is essential for empowering marginalized communities and disadvantaged individuals to actively participate in both the economy and society. It fosters social inclusion and personal growth, effectively combatting poverty and marginalization.

Engaging those directly impacted in addressing their social challenges brings forth dual advantages: it eradicates poverty while simultaneously cultivating them into active contributors to the economy, making it abundantly clear that the economy holds immense potential for substantial social impact.

The social economy currently centers on unleashing human potential and fostering robust community development. It’s a paradigm shift, one that replaces dependency on welfare with the empowerment of financial independence. This approach represents not just a mere philosophy but a tangible reality, a potent force in the ongoing battle to solve the intricate web of social issues.

Social economy – a social philosophy translated into economic pragmatism

In the global context, the social economy has become a key player, generating jobs and addressing social issues during financial crises, according to the World Economic Forum.

In April 2023, the UN adopted a resolution recognising the social economy as a means for sustainable development, strengthening its position in the international landscape. The top social entrepreneurship-friendly countries are led by Canada, Australia, France, Belgium and Singapore, according to Thomson Reuters.

In Europe, the social economy comprises more than 2.8 million social enterprises and 13.6 million employees, contributing significantly to EU GDP and playing an important role in community development. This approach is particularly relevant in regions and countries with limited economic resources, where investing in the well-being of local people contributes to community development.

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