Social Economy

PEOPLE BEFORE PROFIT: "The Social Economy" is formed by a diversity of enterprises and organizations, such as cooperatives, mutual, associations, foundations, social enterprises and NGOs (non-profit organizations), sharing common values and features:

BENEFITS OF SOCIAL ECONOMY:
There are many benefits of social economy, following are a few.

1) People before profit (Primacy of the individual and the social objective over capital)
2) Voluntary and open membership meaning anyone can join the economy cycle at any stage.
3) Diversity (Combination of interests of members/users and/or the general interest).
4) Taking responsibility and accountability (Defense and application of the principles of solidarity and responsibility).
5) Autonomous management and independence from public authorities, though cross-sector collaboration is common.
6) Reinvestment of at least most of the profits to carry out sustainable development objectives, services of interest to members, or of general interest.

3 SECTOR MODEL:
There are 3 major “Economic Sectors” making the strongest backbone of every community in the world.

1) Primary Sector (Raw Materials): The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, forestry, logging, fishing, and mining.

2) Secondary Sector (Manufacturing): Manufacturing is the secondary sector of the economy in an economic sector in the three-sector theory that describes the role of manufacturing. It incorporates industries that produce a finished, usable product or are involved in construction.

3) Tertiary Sector (Services): The tertiary sector involves the delivery of services (intangible goods) to other businesses as well as to final consumers. The tertiary Sector completes the Economic Cycle.

EXTENDED SECTORS:
Quaternary Sector (Information Services):
The quaternary sector of the economy is based upon the economic activity that is associated with either the intellectual or knowledge-based economy. This consists of information Medical & Ayurvedic research and development; information-based services such as technology, information-generation, and information-sharing; and knowledge-based services such as consultation, education, financial planning, blogging, and designing thinking. The Quaternary Sector can also be defined as pure services. This may consist of the entertainment industry, to describe media, culture, and government. This may be classified into an additional quinary sector.

Quinary Sector (Human Services):
It is considered as the branch of a country's economy where high-level decisions are made by top-level executives in government, industry, education, etc.

GLOBAL MOVEMENT:
Many countries are taking an active part in the social economy. Following is the list of a few notable counties in alphabetical order:

Canada
European Union
France
India
Ireland
Latin America
New Zealand
Spain
United Kingdom
United States

Furthermore, India With a population of over 1.2 billion people, India is the second-largest populated country in the world after China.

The cooperative movement in India has made remarkable progress, working more than 600,000 cooperatives and 250 million members, making it the largest cooperative movement in the world. Cooperatives have a huge network and unparalleled reach, with 100% coverage in 500,000 villages. Cooperatives play a pivotal role in the mainstream of the Indian economy, particularly in the fields of agriculture & rural credit, distribution of agricultural inputs, storage, fertilizer, marketing, labor, microfinance, and housing.

Cooperatives are working towards inclusive growth, and cooperative ideals and cooperative organizations are more effective in meeting their people-centered objectives. Cooperative provides the third highest employment after private sector and government jobs. Social Economy attempts to suitably blend economic feasibility with social reality. The cooperatives in India emphasize equitable distribution of value amongst participants.

Causality Care proudly supports the great cause of social economy by putting our clients at the center of everything we do through client education, encouragement, and treatment.

HOW TO BOOK AN APPOINTMENT?
To schedule an appointment, type Appointment on your smartphone and send it as a text to 773 377 5357.

If you have specific questions, you are always welcome to Contact Us and speak with one of our friendly staff members.