How to design a new economic system grounded in cooperation

Students of strategic management have been taught for generations how to gain competitive advantage to optimize profits. The same techniques have been used by Big Tech firms to acquire dominant market positions at the expense of society’s wellbeing. Today, fixing a system that rewards opportunistic behavior, instead of prioritizing societal values, seems an impossible task. In this podcast Dovev Lavie, Professor at the Department of Management and Technology at Bocconi University, identifies several problems that our current economic system has created, including wealth concentration, economic inequality, overconsumption, and the abuse of natural resources. He then proposes design principles on which a new economic system should be built to overcome these challenges and promote sustainability and cooperation within communities.