About the social economy

About the social economy

Social economy puts people before profits. This model invests in people, in their capabilities and creativity and empowers them by creating qualitative jobs and professional training, as well as prioritizing social goals, such as for example rendering support in finding work to people who are out of touch with the labor market.

In market economy enterprises have the goal of generating profits. They act on the market, providing goods and services and are interested in customer satisfaction. That is also true about social economy. The difference is that in social economy the accumulated profits are used for achieving social goals and not for accumulating individual wealth.

By putting social goals in the first place social economy contributes in an innovative way to coping with social, economic and environmental needs of society, which were ignored or were incorrectly addressed by the private or the public sectors. In view of this understanding Caritas actively creates and implements various types of initiatives in the field of social economy throughout Europe.