Conclusion

The definition of “economy” needs to be revised. We think that mechanistic and materialistic functionalism has debased and deprived the concept of economy of its life-giving intention. We suggest revisiting and revising Aristotle’s concept, which addressed the qualities and more general aims of economic activity in addition to its practical aspects. The sensible management of families, nested within and responding to a social and cultural environment, is the foundation of a successful economy, as Aristotle reminds us. The idea of the family must now take into account the entirety of Earth as a result of the space age and the expanding understanding of planetary dynamics, and prudent management must take into account the interdependence of all scales of living systems.

A significant change in how people view and think about the world is necessary for a regenerative economy. Due to this, we emphasize the importance of using a regenerative paradigm that is based on the principles of living systems as the foundation for all economic designs, choices, and activities. This suggests that in order for society to enter and then operate from a new paradigm, there is a need for an extensive and comprehensive process of education that encompasses institutions in charge of everything from administration to education to business to childrearing.

Finally, as a focus for this educational process, developing regenerative skills, not merely an equitable distribution of resources, is necessary for human and natural groups to be able to generate wealth. In particular, it necessitates destroying certainty and constructing paradigm discernment, a living systems framework, and self-determined accountability. We contend that the quickest and best method to set the stage for the transformation of economic systems is through the development of these talents. Also, it is the most democratic way to involve communities in determining their own futures economically.